Key Balance Sheet and Financing Figures
|30 Jun'18||30 Jun'17||Change, %||31 Dec'17||Change, %|
|Balance sheet total||EURm||1,724.9||1,745.3||-1.2||1,719.8||0.3|
|Cash and equivalents||EURm||30.7||31.0||-1.1||71.8||-57.3|
|Average loan maturity||yrs||4.2||4.8||-||4.5||-|
|Secured solvency ratio||%||37.2||37.8||-||35.3||-|
|Unencumbered asset ratio||%||23.9||10.6||-||13.8||-|
On June 30, 2018, the average interest rate on interest-bearing liabilities was 2.39% (2.47%).
On March 5, 2018, Technopolis signed a five-year EUR 518 million refinancing agreement with three Nordic financial institutions. The agreement has an extension option of up to two years. The package consists of four secured facilities:
- a EUR 150 million term loan facility for refinancing existing debt,
- a EUR 100 million committed capex facility,
- a EUR 100 million committed revolving credit facility and
- a EUR 168 million guarantee facility.
These facilities replaced the majority of Technopolis Plc’s bilateral secured bank loans the company had in place earlier in Finland, with the exception of long-term loans from the European Investment Bank, totaling EUR 166 million at year-end 2017.
The facility agreement includes customary financial covenants that are based on maintaining:
- an equity ratio above 30%,
- an LTV below 65% and
- an interest coverage ratio above 2.25.
- The average interest rate on interest-bearing liabilities was 2.39%.
- The average interest fixing period was 4.2 years.
- Hedge ratio 52.0%.
Last updated 23.8.2018