Alma Media has a commercial paper programme and committed bridge financing facility of MEUR 220.
MEUR 220 Committed Bridge Financing Facility
In March 2021, Alma Media agreed on a committed bridge financing facility of MEUR 220 with OP Corporate Bank Plc. The loan will fall due no later than 18 months from the date of withdrawal. The financing arrangement includes the usual covenants concerning the equity ratio and the ratio of net debt to EBITDA. The Group met the covenants on 30 June 2021. Alma Media will convert the existing temporary bridge financing agreement facility into long-term financing during 2021.
At the same time in March 2021, two EUR 12.5 million revolving credit facility (RCF) agreements were concluded with OP Corporate Bank plc and Danske Bank plc.
MEUR 100 Finnish Commercial Paper Programme
The commercial paper programme will enable the company to ensure, in line with its treasury policy, that it has sufficient financial instruments at its disposal for its various capital needs. The programme permits the company to issue notes totalling 0 – 100 MEUR. Of the commercial paper
programme, MEUR 5.0 was in use on 31 March 2021.
- Issuer: Alma Media Corporation
- Dealers: Nordea Bank Finland Plc, Danske Bank Plc and Pohjola Bank Plc
- Currency: euro
- Denomination: The minimum denomination is EUR 100,000.
- Maturity of the Notes: Not less than one day and not more than 364 days.
- Status: The Notes are bearer bonds issued by Alma Media Corporation. There is no collateral for the Notes.
- Rating: Neither the Issuer nor the Notes are rated.
- Listing: The notes will not be listed.
- Applicable law: Finnish legislation.