31.05.2019

€75 million safety related loan

Ramirent has agreed a three year €75 million syndicated term loan facility in which the cost varies with its safety record

The syndicate includes Danske Bank, Nordea Bank and OP Corporate Bank and will be used to fund the Stavdal acquisition that is expected to close by the end of the third quarter.

The loan margin is dependent on Ramirent meeting two key performance indicators:
1. Safe place to work
2. Sales growth of safety offering
The better the company's safety record, the lower the cost of the loan, if it deteriorates the costs rise.

Executive vice president human resources and HSEQ Ulrika Dunker said:"At Ramirent, we take safety of our employees, sub-contractors and customers extremely seriously. We have set ambitious targets both for reducing work related accidents as well as for increasing the sales of rental equipment and related services that improve the safety of our customers' work places e.g. on construction and industrial sites. I'm pleased to see that our financiers also see the importance of these targets."