SATO Corporation announces EUR 300 million senior unsecured bond issue
SATO Corporation, Stock Exchange Release, 1 April 2020 at 6:15 pm
SATO Corporation (“SATO”) today announces a EUR 300 million senior unsecured bond issue under its EMTN programme. The bonds have been offered to European investors and will be issued on 7 April 2020.
The unsecured bonds have a 3-year maturity and will bear an annual fixed interest rate of 2.250 per cent. The net cash proceeds will be used for refinancing of existing indebtedness and general corporate purposes.
"The new bond issuance improves our liquidity position, and despite the challenging market conditions, it was great to see the transaction attract broad interest from investors", says SATO’s CFO Markku Honkasalo.
SATO will apply for listing of the bonds on the Official List of the Irish Stock Exchange plc trading as Euronext Dublin and for the bonds to be admitted to trading on its regulated market. The bonds are expected to be rated BBB (stable outlook) by Standard & Poor’s, in line with SATO’s long-term issuer rating.
Danske Bank, Nordea, OP Corporate Bank and Swedbank acted as joint lead managers and bookrunners for the transaction.
For more information, please contact:
CFO Markku Honkasalo, tel. +358 201 34 4226
Group Treasurer Janne Runsamo, tel. +358 201 34 4009
NASDAQ Helsinki Ltd., Euronext Dublin, main media, www.sato.fi
The information contained in this release shall not constitute an offer to sell or the solicitation of an offer to buy securities of SATO in any jurisdiction. In particular, this release does not
constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States. Any securities referred to herein have not been, and will not be, registered
under the U.S. Securities Act of 1933, as amended, and may not be offered, exercised or sold in the United States or to U.S. persons absent registration or an applicable exemption from registration
SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2019, SATO owned over 26
000 apartments in Finland's largest growth centres and in St Petersburg.
We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term
view. We increase the value of our housing stock through investments, divestments and repairs.
SATO Group's net sales in 2019 were EUR 296 million, operating profit EUR 726 million and profit before taxes EUR 671 million. The value of SATO's investment assets is roughly EUR 4,7 billion.SATO Oyj Unternehmensanleihe 2,25 % bis 09/20 jetzt ab 0€ handeln - auf Smartbroker.de