A new unsecured credit facility of EUR 150 million for DNA
DNA PLC STOCK EXCHANGE RELEASE 29 March 2019 1:45 pm (EET)
DNA has agreed to restructure its long-term credit facilities. A new binding and unsecured credit facility of EUR 150 million for the financing of working capital covers a period of five years and includes two one-year extension options. The credit facility is used for securing the availability of short-term financing in a cost-efficient manner for several years. In addition, DNA has agreed that its domestic commercial paper programme will be raised to EUR 200 million.
The new credit facility replaces the previous credit facility of EUR 150 million agreed in 2015. The total amount of the new facility can be raised to EUR 200 million with consent from the banks.
At the same time, DNA has agreed that its commercial paper programme will be raised to EUR 200 million. The previous agreement signed in 2009 amounted to EUR 150 million.
Under the commercial paper programme, the company may issue commercial papers of which the length is a year at the most and which are used for financing DNA's working capital and other short-term financing needs.
The credit facility and the commercial paper programme are arranged by Nordea Bank Abp, OP Corporate Bank Plc, Danske Bank A/S (Finnish branch), Svenska Handelsbanken AB (Finnish branch) and Skandinaviska Enskilda Banken AB (Helsinki branch).
Jaakko Happo, Head of Treasury, DNA Plc, tel. +358 44 044 8018, email@example.com
Marja Mäkinen, Head of IR, DNA Plc, tel. +358 (0)44 044 1262, firstname.lastname@example.org
DNA Corporate Communications, tel. +358 44 044 8000, email@example.com
DNA is a Finnish telecommunications group providing high-quality voice, data and TV services for communication, entertainment and working. DNA is Finland's largest cable operator and the leading pay TV provider in both cable and terrestrial networks. Our mission is to provide products and services that make our private and corporate customers' lives simple. As a telecommunications operator, DNA plays an important role in society by providing important communication connections and by enabling digital development. DNA was ranked as Finland's best place to work in 2019 in the Great Place to Work survey's large companies category. In 2018, our net sales were EUR 912 million and our operating profit EUR 139 million. DNA has more than 4 million subscriptions in its fixed and mobile communications networks. The Group also includes DNA Store, Finland's largest retail chain selling mobile phones. DNA shares are listed on Nasdaq Helsinki Ltd. For further information, visit www.dna.fi or follow us on Twitter @DNA_fi and Facebook.