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Sato gets €350 million of committed revolving credit facilities
By Cady Vishniac
Detroit., Dec. 16 – Sato Corp. entered into €350 million of committed revolving credit facilities with a margin linked to meeting Sato’s sustainability targets, according to a press release.
The new facilities have a maturity of three years with two one-year extension options.
The credit agreement is with a syndicate of banks including Nordea Bank Oyj, Danske Bank A/S, Finland Branch, OP Corporate Bank plc, Swedbank AB (publ) and Svenska Handelsbanken AB (publ) Branch Operation in Finland.
Proceeds will go toward refinancing Sato’s existing credit facilities maturing in June 2021 and June 2023.
Sato is a rental housing provider based in Helsinki.
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