Brief: Lassila & Tikanoja Signs Revolving Credit Facility Tied To Sustainability Targets
28/03/2022 16:02
March 28 (Reuters) - Lassila & Tikanoja Oyj LAT1V.HE :
* LASSILA & TIKANOJA SIGNS A REVOLVING CREDIT FACILITY TIED
TO
SUSTAINABILITY TARGETS
* LASSILA & TIKANOJA PLC SIGNED A REVOLVING CREDIT FACILITY
OF EUR
40 MILLION TIED TO SUSTAINABILITY TARGETS
* MARGIN ON REVOLVING CREDIT FACILITY TAKES INTO ACCOUNT
L&T'S
PROGRESS TOWARDS ACHIEVING ITS THREE SUSTAINABILITY TARGETS
* REVOLVING CREDIT FACILITY MATURES IN Q1 OF 2025, AND
AGREEMENT
INCLUDES A ONE-YEAR EXTENSION OPTION
* TARGETS TARGETS ARE: INCREASING CARBON HANDPRINT, MEANING
EMISSION SAVINGS GENERATED BY L&T'S OPERATIONS IN RELATION TO
NET SALES
* AGREEMENT WAS SIGNED WITH DANSKE BANK
* HE REVOLVING CREDIT FACILITY ALSO HAS TWO FINANCIAL
COVENANTS:
EQUITY RATIO AND RATIO OF NET DEBT TO EBITDA
* REVOLVING CREDIT FACILITY IS UNSECURED
* AT SAME TIME, LASSILA & TIKANOJA TERMINATED ITS CURRENT
EUR 30
MILLION REVOLVING CREDIT FACILITY, WHICH WOULD HAVE MATURED IN
Q2 OF 2023
* AT PRESENT, COMPANY'S REVOLVING CREDIT FACILITY IS UNUSED.
Source text for Eikon: ID:nGNE4xfYXG
Further company coverage: LAT1V.HE
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