SRV Group extends €100 million three-year revolving credit facility

By Rebecca Melvin

New York, June 19 – SRV Group plc has extended a long-term binding €100 million revolving credit facility with a Nordic banking consortium, according to a press release.

The loan facility was extended to June 16, 2021 from June 16, 2020.

The terms of the loan correspond to the terms and conditions of SRV’s other loans and the financial loan covenants are the equity ratio and gearing.

“The extension of the credit facility together with the hybrid bond emission and early repayment of loans made in May improves the company’s financial position and contributes to the business operations development, profitability and other financing of the company,” Ilkka Pitkanen, CFO of SRV, said in the news release.

OP Corporate Bank plc acted as the coordinator of the loan arrangement and will act as the agent for the credit facility. Banske Bank, Nordea and Swedbank are also part of the consortium.

SRV is an Espoo, Finland-based construction company.

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