Konecranes closes syndication of the merger financing arrangement

Konecranes has closed the syndication regarding a EUR 465 million Term Loan Facility.

The loan will be used to support and finance the completion of the merger of Konecranes and Cargotec, according to Kiira Fröberg, Vice President, Investor Relations.

Fröberg noted that the syndication was launched on the 30th November 2020 and the commitments received from the banks in the syndication led to a significant oversubscription.

Nordea Bank Abp managed the syndication process as Mandated Lead Arranger, Bookrunner and Exclusive Underwriter of the Facility.

BNP Paribas, Danske Bank, OP Corporate Bank Plc and SEB joined the facility as Mandated Lead Arrangers. Citi, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd., London Branch, Deutsche Bank AG, Handelsbanken, Helaba, ING Belgium S.A./N.V., Santander, Standard Chartered and Swedbank AB (publ) were acting as Lead Arrangers.

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