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 Environmental, Social, and Governance (ESG) performance through the implementation of its sustainability strategy.
It should be noted that the issue was oversubscribed and strong investor demand allowed the company to raise the final amount to double the initial amount.
The transaction was supported by a section of German and international financial institutions and the proceeds will be used for 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”, said Konecranes’ Group Treasurer, Tomi Hintikka.
Commerzbank Aktiengesellschaft and Landesbank Hessen Thüringen (Helaba) acted as joint lead arrangers on the deal.
Meanwhile, Konecranes announced that Anders Svensson will start as president and CEO of the company on 19 October 2022. Svensson will take over his role, about 1.5 months earlier than previously announced.
The company had planned to host a Capital Markets Day in autumn 2022. As Anders Svensson joins the company in October, Konecranes has decided to move the Capital Markets Day to the first half of 2023, with the exact date expected to be announced later.
