Cramo anticipates April 29 redemption of €50 million hybrid bond issue

By Tali David

Minneapolis, March 26 - Cramo plc plans to redeem its €50 million hybrid bond issue on April 29, according to a press release.

"As Cramo has strengthened its capital structure in 2009-2012 with strong operative cash flow and a rights issue completed in spring 2011, Cramo has now the financial strength to utilize the call option to redeem this hybrid capital bond. This has also been the original plan," chief financial officer Martti Ala-Harkonen said in a news release.

Cramo is a Vantaa, Finland-based company that engages in the rental of equipment and the rental and sale of modular space solutions.

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