KONECRANES PLC PRESS RELEASE July 13, 2022 at 9:30 EEST
Konecranes successfully places €300 million ESG-linked Schuldschein loan on strong demand from investors
Konecranes has successfully issued a Schuldschein loan, raising a total of €300 million. The sustainability-linked loan has floating and fixed rate tranches with maturities until 2026, 2027 and 2030. The interest margin will be adjusted based on Konecranes’ EcoVadis ESG rating, currently ‘Gold’, and the company will seek to further improve its ESG performance through the execution of its sustainability strategy.
The issue was oversubscribed and the strong investor demand enabled the company to upsize the final amount to €300 million from the initial €150 million. The transaction was supported by a cross-section of German and international financial institutions and the use of proceeds is refinancing and general corporate purposes.
“Our second Schuldschein loan issue strengthens our long-term financing structure and provides an important source of investor diversification, in addition to conveying our commitment to ESG by connecting our sustainability performance to financing”, says Konecranes’ Group Treasurer Tomi Hintikka.
Commerzbank Aktiengesellschaft and Landesbank Hessen Thüringen (Helaba) acted as joint lead arrangers on the deal.
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Konecranes is a world-leading group of Lifting Businesses, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2021, Group sales totaled EUR 3.2 billion. The Group has approximately 16,600 employees in around 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).