Key Balance Sheet and Financing Figures
|31 Mar'18||31 Mar'17||Change, %||31 Dec'17||Change, %|
|Balance sheet total||EURm||1,731.5||1,776.5||-2.5||1,719.8||0.7|
|Cash and equivalents||EURm||60.8||62.5||-2.6||71.8||-15.2|
|Average loan maturity||yrs||4.5||5.1||-12.4||4.5||-1.3|
|Secured solvency ratio||%||37.7||38.3||-||35.3||-|
|Unencumbered asset ratio||%||25.6||12.3||-||13.8||-|
On March 31, 2018, the average interest rate on interest-bearing liabilities was 2.43% (2.54%).
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 2.43%.
- The average interest fixing period was 4.7 years.
- Hedge ratio 56.3%.
Last updated 5.7.2018