Suominen gets €100 million sustainability-linked three-year revolver

By Sarah Lizee

Olympia, Wash., July 13 – Suominen Corp. entered into a €100 million single-currency syndicated revolving credit facility agreement with a maturity of three years with two one-year extension options, according to a press release.

The lenders for the facility are Danske Bank A/S, Finland Branch and Nordea.

The new credit facility includes leverage ratio and gearing as financial covenants.

The margin of the facility will increase or decrease dependent on Suominen meeting two sustainability key performance indicators, including increase in the sales of sustainable products and reduction of greenhouse gas emissions.

The new credit facility replaces the existing €100 million syndicated revolver of Suominen provided by Nordea and Svenska Handelsbanken AB (publ), Branch Operation in Finland as the lenders.

Suominen supplies nonwovens for use in consumer products and is based in Helsinki, Finland.

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