Finland’s Lemminkäinen amends terms of revolving credit facility
First publishedon www.AggBusiness.com
Finnish construction and infrastructure group Lemminkäinen has agreed on amending the terms of its €185 million revolving credit facility and extending the maturity by one year.
The credit facility will mature on 27 March, 2017, and is currently completely undrawn.
Nordea Bank Finland, Danske Bank, and Pohjola Bank are reported to be involved in the credit facility.
Lemminkäinen is said to have agreed with the lenders in March 2015 that the company will commit to strengthening its balance sheet by a total of €60 million instead of the original €100 million.
Furthermore, the company may distribute a maximum of 40% of the group's net profit for the financial years 2015 and 2016 as dividends.