Sponda Plc has signed an agreement for a 150 million unsecured 5-year loan with Nordea Bank Finland Plc.
The margin on the loan corresponds to today's market rates and the terms and conditions of the loans are the same as with Sponda's other loans. The loan will be used in its entirety to repay existing debts and will replace short term credit limits for the same amount that mature in March 2010.
Sponda Plc is a real estate company specializing in commercial properties in the largest cities in Finland and in Russia. The fair value of Sponda's investment properties is approximately 2.8 billion euros and the leasable area is around 1.5 million m².
Source: Sponda Plc