UPM wraps up Eu800m loan for Myllykoski acquisition
Finnish papermaker UPM-Kymmene signed Eu800m of bank loans on December 21 to finance the acquisition of its rival Myllykoski for an enterprise value of around Eu900m. UPM plans to issue five million shares, with a market value of Eu60m, to support the takeover.
The debt consists of term loans with durations of four, six and seven years. Although the bank group is unconfirmed, the company said many of the banks were relationship banks.
Commerzbank, Crédit Agricole, Nordea, Pohjola, SEB and Svenska were bookrunners on UPMs existing Eu825m syndicated revolving credit facility, which
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