Sato to refinance maturing loans with €150 million seven-year loan

By Angela McDaniels

Tacoma, Wash., May 2 – Sato Corp. received a €150 million seven-year bilateral loan without asset-based securities from OP Corporate Bank plc on Thursday, according to a company news release.

Proceeds will be used to refinance maturing loans and for general financing purposes.

The company said its target is to increase the share of loans without asset-based securities in its financing structure. At the end of 2018, interest-bearing debt without asset-based securities accounted for about 66% of its debt portfolio, and the share of unencumbered assets out of the whole balance sheet was around 74%.

Sato is a rental housing provider based in Helsinki, Finland.

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