Cramo signs €500 million loan agreement for Adapteo demerger

Chicago, March 29 – Cramo plc announces that it has signed a new €500 million loan agreement for Adapteo plc, according to a notice.

The loan consists of a €400 million term loan and a €100 million revolving credit facility.

The facility matures in 2022, but at the consent of the lenders the revolving credit facility may be extended an additional year.

OP Corporate Bank plc, Danske Bank AS and Nordea Bank Abp are acting as mandated lead arrangers.

The loan will be transferred to Adapteo upon the completion of the demerger, expected to take place July 1. In the demerger plan all assets and liabilities belonging to the modular space business will be transferred without a liquidation procedure.

Cramo is a rental services company based in Vantaa, Finland. Cramo Adapteo is the sub-brand for Cramo’s modular space operations.

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