Alma Media Corporation Stock Exchange Release December 2, 2021
ALMA MEDIA SIGNS A NEW EUR 230 MILLION LONG-TERM FINANCING ARRANGEMENT
Alma Media has today signed a new EUR 200 million Term Loan financing facility. It will replace the Bridge loan financing for mergers and acquisitions that has been in place. The new financing facility will have a tenor of 36 months.
In addition, the new funding arrangement includes a EUR 30 million revolving credit facility (RCF). The facility will be used for general corporate purposes and has a tenor of four years. At the time of publication of this release, the credit line is completely undrawn.
The agreements of the Term Loan financing and revolving credit facilities were concluded with a syndicate consisting of three commercial banks (OP Corporate Bank, Danske Bank and Nordea Bank). OP Corporate Bank acted as coordinator for the financing arrangement.
"We have carried out a significant number of acquisitions this year. This has naturally affected our financial position and increased our gearing ratio, which was 132 per cent at the end of third quarter. At the announcement of our Q3 earnings, we reported that our financial position strengthened during the quarter as planned and our solvency improved thanks to our good profit performance and strong cash flow. We also informed that Alma Media would convert the existing temporary bridge financing agreement facility into long-term financing before the end of the year.", says Juha Nuutinen, Chief Financial Officer at Alma Media.
Alma Media Corporation
Juha Nuutinen, CFO, Alma Media, +358 10 665 3873
Distribution: Nasdaq Helsinki, main media, www.almamedia.com