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NoHo Partners has completed the negotiations on a new long-term financing package

NoHo Partners Oyj
·2-min read

NoHo Partners Plc

STOCK EXCHANGE RELEASE 15 February 2021 at 17:15

NoHo Partners has completed the negotiations on a new long-term financing package

NoHo Partners Plc has completed its negotiations with its main financiers concerning a financing package in which the bridge financing, which was negotiated at the beginning of the COVID-19 pandemic, and the current financiers’ existing loans have been combined into one long-term financing package. The purpose of the negotiated financing package of approximately MEUR 141 is to secure the company’s long-term financing position and make the reconstruction programme after the exceptional circumstances end possible.

The financing package consists of a five-year programme in which loan instalments are MEUR 6 during the 2021 financial period and approximately MEUR 22 during the 2022 financial period. At the beginning of the financing programme, the interest level of loans granted by financial institutions will increase to a little over 3 per cent until the COVID-19 bridge financing has been paid back. After that, the interest level will gradually return to about 2.6 per cent.

“The financing package agreed guarantees the financing for our Group for a long period of time. For the company, it was important to find a more long-term solution that will balance our financing position in the coming years and enable reconstruction measures after the exceptional circumstances caused by the coronavirus are over,” says NoHo Partners CEO Aku Vikström.

More information available from:
Aku Vikström, CEO, NoHo Partners Plc, tel. +358 44 011 1989
Jarno Suominen, Deputy CEO, NoHo Partners Plc, tel. +358 40 721 5655

Distribution:
Nasdaq Helsinki
Major media
www.noho.fi/en

NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Yes Yes Yes, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs and Cock’s & Cows. In 2019, NoHo Partners Plc’s turnover was MEUR 272.8 and EBIT MEUR 30.6. Depending on the season, the Group employs approximately 2,100 people converted into full-time workers.

NoHo Partners corporate website: www.noho.fi
NoHo Partners consumer website: www.ravintola.fi