Sanoma gets €550 million five-year revolver and four-year term loan

By Susanna Moon

Chicago, Feb. 4 – Sanoma Corp. said it inked a deal with a group of nine banks for a €550 million credit facility with consisting of a €250 million four-year term loan and a €300 million five-year bullet revolving credit facility.

The term loan will be repaid in three annual installments of €50 million starting from the third quarter of 2020, with a final repayment of €100 million at maturity, according to a press release.

The term loan will be used for a planned acquisition of Iddink in the second to third quarter of 2019.

The revolver replaces the facility of similar size set to in February 2020, with proceeds to be used for general corporate purposes.

The coordinating mandated lead arrangers and bookrunners for the transaction are Nordea Bank and OP Corporate Bank. The other mandated lead arrangers and bookrunners are Danske Bank, Handelsbanken, SEB, Swedbank, ING Bank, ABN Amro and Rabobank.

Sanoma is a diversified media group based in Helsinki, Finland.

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