Peikko Group Corporation has signed a new long-term financing agreement to be used to refinance all of the Group’s current existing senior indebtedness. The financing agreement consists of a EUR 60 million long-term loan as well as a EUR 15 million revolving credit facility. The agreement is for three years.
The margins of the financing agreement are linked to Peikko Group’s financial covenants and include an option to link the margin also to sustainability criteria in the future.
Nordea Bank ABP and Danske Bank A/S were acting as Mandated Lead Arrangers and Bookrunners. Elo Mutual Pension Insurance Company and LocalTapiola Corporate Lending I LP acted as Lead Arrangers. Nordea Bank acted as Coordinator, Agent, and Security Agent in the transaction.
"I want to thank all of our financing partners for their valuable support. We are pleased with the agreement, which is an important enabler for us to continue executing our strategy in today’s challenging market environment. With this foundation in place, we can now focus fully on driving our business forward and on serving our customers”, says Topi Paananen, CEO of Peikko Group Corporation.
Further information:
Topi Paananen, CEO, Peikko Group Corporation
Mobile +358 50 384 3001, e-mail [email protected]
Peikko Group in brief
Peikko Group Corporation is a leading global supplier of slim floor structures and connection technology for precast and cast-in-situ construction. Peikko’s innovative solutions offer a faster, safer, and more sustainable way to design and build. Peikko has sales offices in over 30 countries in Asia-Pacific, Europe, Africa, the Middle East, and North America, with manufacturing operations in over ten countries. Peikko generated a turnover of EUR 262 million in 2023. Peikko is a family-owned and managed company that employs over 2,000 professionals. Peikko was founded in 1965 and is headquartered in Lahti, Finland. Further information: www.peikko.com.