Glaston completes loan as part of debt raising programme
Finland’s Glaston, which makes glass processors, has completed a Eu73.7m three year syndicated loan as part of a Eu84m refinancing package. The three year senior debt has been agreed with Nordea, Pohjola and Sampo Bank. The facility replaces a Eu74m revolver agreed with the same group of banks in 2009, which is set to mature this November.
The borrower is also raising Eu6m through issuing new shares, offering up to 6.8 million new shares to local investors, and will also raise Eu4m in three year junior debt.
Glaston has also agreed with investors Varma and Finnish Industry Investment to convert some of the convertible loan held
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