Sonae Indústria's subsidiary company in South Africa, Sonae Novobord (Pty) Ltd., has completed a new long term, non-recourse bank loan with local reference credit institutions, with a maximum amount of ZAR 320 million ($26.6 million). This credit facility allows Sonae Novobord (Pty) Ltd. to fully fund its business plan, has a final maturity of 5 years and includes an amortization schedule adjusted to the projected cash flow generation of the business.

Sonae Indústria announces loan obtained by its affiliated Sonae Novobord in South Africa

11:14 / 五月 28, 2015

May 28, 2015. /Lesprom Network/. Sonae Indústria's subsidiary company in South Africa, Sonae Novobord (Pty) Ltd., has completed a new long term, non-recourse bank loan with local reference credit institutions, with a maximum amount of ZAR 320 million ($26.6 million). The initial drawdown (ZAR 268 million ($22.2 million) under this new facility was executed yesterday, as the company said in the press release received by Lesprom Network.

This credit facility allows Sonae Novobord (Pty) Ltd. to fully fund its business plan, has a final maturity of 5 years and includes an amortization schedule adjusted to the projected cash flow generation of the business. In addition, this refinancing reinforces the financial flexibility of Sonae Novobord (Pty) Ltd., while significantly extending the average maturity of its debt.

Sonae Indústria is one of the largest wood-based panel producers in the world.

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Sonae Indústria announces loan obtained by its affiliated Sonae Novobord in South Africa

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