Sponda has signed a five-year EUR 350 mln syndicated credit agreement to refinance the outstanding short-term loan raised in December 2006 to finance the acquisition of Finnish peer Kapiteeli. The lead managers of this issue are Nordea, OKO Bank, Skandinaviska Enskilda Banken, Helsinki Branch, and the manager is Swedbank. The loan carries a margin at the beginning of the loan period of Euribor plus 0.375-0.425 %.
Sponda has signed a five-year EUR 350 mln syndicated credit agreement to refinance the outstanding short-term loan raised in December 2006 to finance the acquisition of Finnish peer Kapiteeli. The lead managers of this issue are Nordea, OKO Bank, Skandinaviska Enskilda Banken, Helsinki Branch, and the manager is Swedbank. The loan carries a margin at the beginning of the loan period of Euribor plus 0.375-0.425 %.
In early December last year, Sponda secured a one-year syndicated credit facility for a total of EUR 1.5 bn for the Kapiteeli deal that doubled Sponda's real estate portfolio to about 2 million m2 of leasable area across Finland. In January this year, Sponda said it intended to raise up to EUR 250 mln in a share issue to help finance the acquisition. Sponda is a Helsinki-based commercial property company active in key cities in Finland and Russia.
