Enento Group signed a new long-term financing agreement to be used for refinancing of its current financing arrangement. The financing agreement consists of a €150 million ($144.6 million) long-term loan as well as a €30 million ($28.9 million) revolving credit facility. The agreement is for three years and includes two one-year options for extension of the loan period.
The loan replaces the financing agreement that was signed in October 2018 of a €160 million ($154.3 million) long-term loan and a €20 million ($19.2 million) revolving credit facility. The revolving credit facility has been unutilized.
The margins of the financing agreement are linked to Enento Group´s financial covenants and include an option to link the margin also to sustainability criteria in the future.
OP Corporate Bank, Danske Bank and Nordea Bank were acting as mandated lead arrangers and bookrunners. OP Corporate Bank acted as coordinator, sustainability coordinator and agent in the transaction.