Tornator Oyj has signed a binding loan contract with OP Corporate Bank Plc for Euro 250 million (“bridge loan”) to refinance a secured bond loan at its maturity in December 2019. The bridge loan will mature in September 2020 and it has customary conditions precedent for the utilization.

Timberlands

Tornator secured Euro 250 million bond loan refinancing

The forestry company Tornator Oyj has signed a binding loan contract with OP Corporate Bank Plc for Euro 250 million (“bridge loan”) to refinance a secured bond loan at its maturity in December 2019. The bridge loan will mature in September 2020 and it has customary conditions precedent for the utilization, as the company says in the press release received by Lesprom Network.

In addition, Tornator may utilize simultaneously both Euro 100 million revolving credit facility and Euro 200 million commercial paper program at its own discretion. The amendments provide Tornator more capacity to execute its growth strategy.

Tornator is the leading company in Europe specialised in responsible forestry with own forests in Finland, Estonia and Romania.