Ramirent signs €75 million term loan for Stavdal acquisition

Chicago, May 31 – Ramirent plc signed a €75 million three-year syndicated term loan facility agreement with Danske Bank AS, Nordea Bank Abp and OP Corporate Bank plc.

The proceeds of the loan are to be used for the Stavdal acquisition that is expected to close, at the latest, by the end of the third quarter.

The margin of the loan will increase or decrease according to the company meeting two sustainability key performance indicators. Namely, the loan margin will be linked to the safety of the workplace and sales growth of safety offerings.

The company is aiming to lower the lost time incident frequency rate below 5 and is targeting 7% annual growth for sales of safety offerings.

The company is working to reduce work-related accidents and “increasing the sales of rental equipment and related services that improve the safety of our customers’ work places,” Ulrika Dunker, executive vice president of human resources and HSEQ, stated in the release.

Ramirent has committed long-term senior credit facilities of €560 million in total. On March 31, Ramirent's net debt was €423.6 million.

Ramirent offers equipment rental for construction and other industries and is based in Helsinki, Finland.

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