Tornator Oyj
Stock Exchange Release, 30 May 2023 at 9 AM
Tornator secured EUR 100 million additional financing
Forestry company Tornator Oyj has signed an EUR 100 million addition into its existing Revolving Credit Facility. The agreed addition increases the total amount of the Revolving Credit Facility from EUR 100 million to EUR 200 million and enables Tornator to utilize its Commercial Paper program more efficiently, for example, in financing growth investments. Revolving Credit Facility is secured and it matures according to the terms of the existing facility in March 2025.
Increase in the Revolving Credit Facility was implemented by Danske Bank, OP ja SEB who implemented also the original transaction
For further information, please contact:
CFO Antti Siirtola, tel. +358 40 773 0975
www.tornator.fi/en
Tornator is a leading specialist in sustainable forestry in Europe. It owns forests in Finland, Estonia and Romania. In 2022, the group’s net sales were some €165 million, and the balance sheet value was about €3.2 billion. The group has around 190 employees. Tornator's own employees, and other companies and their employees working on its forestland, add up to around 1,500 person/years of employment. The owners of the parent company are Finnish, mainly institutional investors. Tornator's mission is to generate sustainable well-being from forests.
