Lassila & Tikanoja plc
Stock Exchange Release
27 June 2025 at 5.50 pm
Lassila & Tikanoja plc has refinanced its long-term debt financing
Lassila & Tikanoja plc has today, 27 June 2025, entered into unsecured financing arrangements consisting of a EUR 35 million term loan and a EUR 15 million term loan and revolving credit facilities agreement with OP Corporate Bank Plc, as well as a EUR 40 million revolving credit facility agreement with Danske Bank A/S, Finland Branch. The financing arrangements are part of Lassila & Tikanoja plc's refinancing of its long-term debt financing that was originally set to mature in 2026.
The EUR 35 million term loan, the EUR 15 million term loan and revolving credit facilities, and the EUR 40 million revolving credit facility will mature in the second quarter of 2028, with a two-year extension option included in the agreements.
The company has planned a partial demerger in which its Circular Economy business is separated into a new publicly listed company and in connection to that the agreement with OP Corporate Bank Plc concerning the EUR 35 million term loan also includes a EUR 80 million bridge facility and an uncommitted accordion facility option. The bridge facility has been arranged to back up the outstanding EUR 75 million unsecured notes, for the redemption and/or repayment of notes to the extent that noteholders exercise their early redemption rights due to the partial demerger. Additionally, the bridge facility can be used to finance any other costs related to the planned partial demerger. In accordance with the relevant loan terms, the utilised bridge facility will automatically be converted into the EUR 35 million term loan.
The financing arrangements include standard financial covenant terms. The terms of the financing arrangements also take into account the effects of Lassila & Tikanoja plc's planned partial demerger.
LASSILA & TIKANOJA PLC
For additional information:
Joni Sorsanen, CFO, tel. +358 50 443 3045
Lassila & Tikanoja is a service company that is putting the circular economy into practice. Together with our customers, we keep materials, manufacturing sites and properties in productive use for as long as possible and we enhance the use of raw materials and energy. This is to create more value with the circular economy for our customers, personnel and society in a broader sense. Achieving this also means growth in value for our shareholders. Our objective is to continuously grow our actions' carbon handprint, our positive effect on the climate. We assume our social responsibility by looking after the work ability of our personnel as well as offering jobs to those who are struggling to find employment, for example. With operations in Finland and Sweden, L&T employs approximately 7,400 people. Net sales in 2024 amounted to EUR 770.7 million. L&T is listed on Nasdaq Helsinki.
Distribution:
Nasdaq Helsinki
Major media
www.lt.fi/en
