Metsaliitto Gets 425 Million-Euro Refinancing Loan
Metsaliitto Osuuskunta, the Finnish forestry cooperative that controls paper company M-real Oyj, obtained 425 million euros ($556 million) of loans to refinance debt.
The new financing includes a term loan and a revolving credit line, both maturing in April 2014, the Espoo, Finland-based company said in a statement to the Helsinki stock exchange. It replaces Metsaliitto’s existing 560 million-euro facility, according to the statement.
That deal was signed in 2006 and matures in March, according to data compiled by Bloomberg. Metsaliitto paid initial interest of 50 basis points to 60 basis points more than the euro interbank offered rate on the 2006 transaction, the data show.
DnB NOR ASA, Nordea Bank AB, Pohjola Bank Plc, Swedbank AB, Danske Bank A/S, SEB AB and Nykredit Bank A/S provided the new loan, Metsaliitto said.
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