Sanoma has signed a new EUR 550 million credit facility

Sanoma Corporation, Press release, 4 April 2019 at 16:45 EET

Sanoma has signed a new EUR 550 million credit facility

Sanoma Corporation has signed a EUR 550 million syndicated credit facility with a group of nine relationship banks. The facility has two tranches, a EUR 250 million term loan facility with four year maturity and a EUR 300 million bullet revolving credit facility with five year maturity. The term loan will be repaid in three annual instalments of EUR 50 million starting from Q3 2020, with a final repayment of EUR 100 million at maturity.

The term loan will be used for the intended acquisition of Iddink, which Sanoma announced on 11 December 2018. The acquisition is expected to be finalised in Q2–Q3 2019.

The revolving credit facility replaces the current revolving credit facility of similar size, which would have expired in February 2020, and will be used for general corporate purposes.

"We are pleased with having successfully syndicated and signed this important funding transaction. The group of our relationship banks expands from seven to nine, which supports the execution of our growth strategy going forward ", says Markus Holm, CFO & COO of Sanoma.

The coordinating mandated lead arrangers and bookrunners for the transaction are Nordea Bank and OP Corporate Bank. The other mandated lead arrangers and bookrunners are Danske Bank, Handelsbanken, SEB, Swedbank, ING Bank, ABN Amro and Rabobank.

Additional information
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sirpa Louhevirta, Group Treasurer, tel. +358 50 303 8299

Sanoma

Sanoma is a front running learning and media company impacting the lives of millions every day. We enable teachers to excel at developing the talents of every child, provide consumers with engaging content, and offer unique marketing solutions to business partners.

With operations in Finland, the Netherlands, Poland, Belgium and Sweden, our net sales totalled EUR 1.4 billion and we employed more than 4,400 professionals in 2017. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.