16.11.2012

Cramo sells €100 million bond

Cramo has issued a domestic senior unsecured €100 million five year bond, maturing on 23 February 2018 and carrying a fixed annual interest at the rate of 4.5 percent.

The offering was oversubscribed and was allocated to approximately 50 investors. The proceeds from the bond will be used to repay Cramo’s existing debt and for general corporate purposes.

Chief financial officer Martti Ala-Härkönen said: "We are pleased to enter the debt capital markets with this transaction. This bond issue is an important step in extending Cramo’s funding sources and in extending the maturity profile of
Cramo’s debt portfolio. Credit investors clearly showed their confidence in the company”