Suominen issues EUR 50 million bond
June 04, 2021 10:15 ET | Source: Suominen Corporation Suominen Corporation
Suominen Corporation’s Stock Exchange Release on June 4, 2021 at 5:15 pm (EEST)
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Suominen Corporation issues a senior unsecured bond of EUR 50 million. The six-year bond matures on June 11, 2027 and it carries a coupon of 1.5 per cent. The offering was allocated to 19 investors.
Suominen Corporation will apply for the listing of the bond on the official list of Nasdaq Helsinki Ltd.
Suominen Corporation's press release on May 31, 2021 at 1:00 p.m. (EEST) Suominen signed in July 2020 a syndicated revolving credit facility agreement of EUR 100 million with a maturity of three years
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“Year 2021 has started well for Suominen. Our net sales increased to EUR 115.3 million (110.2) in the first quarter despite unfavorable currency rates thanks to continued strong demand of our products. Our quarterly comparable EBITDA (earnings before interest, taxes, depreciation and amortization) was record high and amounted to EUR 18.5 million (11.3). This was driven by the high sales volumes, supported by improved production and raw material efficiency and sales mix. As expected, raw material price inflation sped up significantly during the quarter, but the result impact will be fully visible in the coming months.
The COVID-19 pandemic has increased consumption of nonwovens in all our markets and the demand is expected to continue on a high level. In the long term, COVID-19 may lead to a sustained increase in the use of nonwovens for cleaning and disinfection products. However, the risks related to the pandemic, such as possible shortages of raw materials, issues linked to l
University groups say exchange students need clearer information about Finnish rules and recommendations on Covid-19.
Exchange students infected with coronavirus spent time at the Helsinki nightclub Maxine in February. The individuals pictured are not related to the case (file photo).
Image: Petteri Bülow / Yle
University student groups blame sparse information in English and confusing recommendations for the spread of coronavirus among exchange students in Finland.
New exchange students have not generally been allowed to come to Finland since last autumn, but some of those in the country have been linked to a string of Covid-19 clusters.
In January, 150 students attended a party at a bar in Jyväskylä, with more than 100 of them later being diagnosed with Covid infections. In Helsinki, at least 100 were exposed to or contracted coronavirus infections at a party in February. In Lappeenranta, infections appeared after a spa trip, with more than a dozen exchange students falling