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Lassila & Tikanoja signs a new revolving credit facility

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Lassila & Tikanoja plc
Investor news
April 8, 2020 at 18:00

Lassila & Tikanoja signs a new revolving credit facility

Lassila & Tikanoja plc has signed a new revolving credit facility of EUR 30 million. The revolving credit facility will mature in the second quarter of 2022. The agreement includes a one-year extension option. The agreement was signed with Danske Bank.

The revolving credit facility has two financial covenants that will be reviewed on a quarterly basis: the equity ratio and the ratio of net debt to EBITDA. The revolving credit facility is unsecured.

At the same time, Lassila & Tikanoja terminated its current EUR 30 million revolving credit facility, which would have matured in the third quarter of 2020.

The company’s revolving credit facility is unused at present.

For additional information, please contact:
Valtteri Palin, CFO, tel. +358 40 734 7749

Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials and properties in productive use for as long as possible and we enhance the use of raw materials and energy. This is to create more value with the circular economy for our customers, personnel and society in a broader sense. Achieving this also means growth in value for our shareholders. Our objective is to continuously grow our actions’ carbon handprint, our positive effect on the climate. We assume our social responsibility by, for example, looking after the work ability of our personnel and also offering jobs to those who are struggling to find employment. L&T operates in Finland, Sweden and Russia. L&T employs 8,200 people. Net sales in 2019 amounted to EUR 784.3 million. L&T is listed on Nasdaq Helsinki.