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Friday, 21 April 2017

Unemployment Insurance Fund (TVR): Unemployment Insurance Fund has signed a revolving credit facility (RCF) agreement

Työttömyysvakuutusrahasto    

Published: 10:30 CEST 21-04-2017 /GlobeNewswire /Source: Työttömyysvakuutusrahasto / : TYOJ037519 /ISIN: FI4000157193


Unemployment Insurance Fund     Stock Exchange Release     21 April 2017 at 11:30                                                

 

Unemployment Insurance Fund (TVR) has signed a revolving credit facility (RCF) agreement

 

TVR released on 12 April 2017 a Stock exchange release regarding the plan to renew the revolving credit facility (RCF) and the state guarantee attached to it.

 

Unemployment Insurance Fund has signed on 20 April 2017 a 400 million euro Revolving Credit Facility (RCF) with OP Corporate Bank PLC, Nordea Bank AB (publ) Finnish Branch, Swedbank AB (publ) and Svenska Handelsbanken AB (publ) Branch operation in Finland. The maturity of the Facility is two years and it is attached with a state guarantee of 440 million euros.

 

The RCF is aimed to ensure the financing of the benefit payments entitled to TVR. With the reference to the base scenario estimate released by TVR on 12 April 2017 it is stated that Unemployment Insurance Fund would most probably not be in a situation to need new debt financing within the next two years.

 

 

 

Additional  information:

 

Janne Metsämäki, Managing Director. tel. +358 40 522 3614

Tapio Oksanen, Deputy Managing Director, CFO tel. +358 40 539 4651

 

 

 

Helsinki, 21 April 2017

 

Unemployment Insurance Fund (TVR)

 

Tapio Oksanen

Deputy Managing Director

 

 

 

Distribution:

NASDAQ OMX Helsinki

Media

www.tvr.fi

 

 

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Työttömyysvakuutusrahasto, The Unemployment Insurance Fund, P.O. Box 191, Helsinki FI-00121, Finland
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