HELSINKI--(BUSINESS WIRE)--Regulatory News:
Finnair Plc (HEX:FIA1S) Stock Exchange Release 23 June 2016 at 9:00 am EET
On 22 June 2016, Finnair Plc signed a binding EUR 175 million syndicated revolving credit facility for general corporate purposes. The coordinator and bookrunner for the facility is Skandinaviska Enskilda Banken AB (publ). Danske Bank, Nordea Bank, OP Corporate Bank and Swedbank AB (publ) also joined with equal tickets.
The loan replaces a syndicated revolving credit facility dated 2 July 2013, which was unutilised. The new credit facility carries a three-year tenor and has two one-year extension options. The financial covenant of the loan is adjusted gearing of 175 percent and all other terms of the facility are substantially in line with the previous transaction.
Finnair is a network airline specialising in passenger and cargo traffic between Asia and Europe. Helsinki’s geographical location gives Finnair a competitive advantage, since the fastest connections between many European destinations and Asian megacities fly over Finland. Finnair’s vision is to offer its passengers a unique Nordic experience, and its mission is to offer the smoothest, fastest connections in the northern hemisphere via Helsinki and the best network to the world from its home markets. Finnair is the only Nordic carrier with a 4-star Skytrax ranking and a member of the oneworld alliance. In 2015, Finnair’s revenues amounted to EUR 2,255 million and it had a personnel of 4,800 at the year-end. Finnair Plc’s shares are quoted on Nasdaq Helsinki.
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