The financing agreement consists of a EUR 10.0 million long term loan and a EUR 22.0 million revolving credit facility, which can be used for short term financing and guarantees.
The agreement fully replaces the earlier financing agreements and secures the company's financing for the coming three year period. The agreement reduces Glaston's funding and administrative costs and has therefore a positive effect on Earnings per Share. In addition, the agreement removes all restrictions for normal distribution of funds.
The financial covenants used in the financing agreement are gearing (net debt/equity) and leverage (net debt/EBITDA). The covenants will be monitored quarterly.
The arrangers of the loan are Nordea Bank Plc and Pohjola Bank plc.
Sasu Koivumäki, Chief Financial Officer, Glaston Corporation, tel. +358 10 500 6412
Arto Metsänen, President & CEO, Glaston Corporation, tel. +358 10 500 6100
Director, Communications and Marketing
Tel. +358 10 500 6105
Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our products range from pre-processing and safety glass machines to software solutions and maintenance services. We are dedicated to our customers' continued success and provide services for all glass processing needs with a lifecycle-long commitment in mind. Further information is available at www.glaston.net.
Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List.
Distribution: NASDAQ OMX Helsinki, key media, www.glaston.net