Altia has refinanced its loan portfolio

Press Release   •   Dec 23, 2013 13:00 GMT

Altia Plc has signed an agreement on loan facility of EUR 200.5 million with maximum maturity of five years. The new loan also includes a revolving credit type of committed overdraft facility of EUR 60 million. The new loan will replace the existing loans maturing in 2014 - 2015. The arrangers of the loan are Danske Bank, Handelsbanken, Nordea Bank Finland and Pohjola Bank. The loan is to be used for general corporate purposes. In addition Altia has diversified its funding structure and agreed with Pohjola Bank a frame agreement for accounts receivable sales. Maximum amount under this agreement is EUR 70 million.

“We are very pleased for the continuous support and commitment of our banks. Our target was as well to exploit favorable market conditions and extend loan portfolio maturities”, says Altia’s Group Treasurer, Tuula Hatakka.

Altia is the leading wine and spirits company offering quality brands in the Nordic and Baltic countries. Altia produces, markets, sells, imports and exports alcoholic beverages in its market area. Altia serves its consumers, customers and partners close to markets with its wide production, sales and logistic set-up. Annual net sales amounts to approximately 500 million euro and the total number of personnel is approximately 1,100.

Altia’s own brands such as Blossa, Chill Out, Explorer, Grönstedts, Jaloviina, Koskenkorva, O.P. Anderson, Renault, Skåne Akvavit, Xanté and Arsenitch have a strong market position and a long heritage to cherish. Altia’s partner brands represent both local and international brands from all over the world, such as Codorníu, Drosty-Hof, Hardy’s, Jack Daniel’s, Bowmore, Nederburg, Ravenswood and Robert Mondavi.