Unemployment Insurance Fund (TVR): Unemployment Insurance Fund has signed a revolving credit facility (RCF) agreement
Unemployment Insurance Fund Stock Exchange Release 21 April 2017 at 11:30
Unemployment Insurance Fund (TVR) has signed a revolving credit facility (RCF) agreement
TVR released on 12 April 2017 a Stock exchange release regarding the plan to renew the revolving credit facility (RCF) and the state guarantee attached to it.
Unemployment Insurance Fund has signed on 20 April 2017 a 400 million euro Revolving Credit Facility (RCF) with OP Corporate Bank PLC, Nordea Bank AB (publ) Finnish Branch, Swedbank AB (publ) and Svenska Handelsbanken AB (publ) Branch operation in Finland. The maturity of the Facility is two years and it is attached with a state guarantee of 440 million euros.
The RCF is aimed to ensure the financing of the benefit payments entitled to TVR. With the reference to the base scenario estimate released by TVR on 12 April 2017 it is stated that Unemployment Insurance Fund would most probably not be in a situation to need new debt financing within the next two years.
Janne Metsämäki, Managing Director. tel. +358 40 522 3614
Tapio Oksanen, Deputy Managing Director, CFO tel. +358 40 539 4651
Helsinki, 21 April 2017
Unemployment Insurance Fund (TVR)
Deputy Managing Director
NASDAQ OMX Helsinki