SRV GROUP PLC    STOCK EXCHANGE RELEASE     26 APRIL 2023 AT 14:00 EEST

SRV Group Plc has agreed on a revolving credit facility of EUR 40 million tied to sustainability objectives

SRV Group Plc has agreed on a committed, unsecured revolving credit facility (RCF) amounting to EUR 40 million with its key lenders (Danske Bank, Nordea, OP, Swedbank). The RCF matures in two years with an optional one-year extension. It replaces the financing facility signed in April 2022, which included a EUR 30 million committed revolving credit facility, a EUR 40 million committed project financing facility and a EUR 63 million non-committed project financing facility. Going forward, project financing will be negotiated bilaterally with banks in accordance with normal market practices.

The interest margin of the revolving credit facility is tied to three of SRV's key sustainability objectives: carbon dioxide emissions from the operations of both, the company and also its partner network and the accident frequency rate (LTIF). The financial covenants are equity ratio, gearing, minimum operating margin and minimum liquidity (in the previous RCF, the minimum cash).

"The new revolving credit facility bolsters our liquidity and will secure our financing for the next two years," says SRV's CFO Jarkko Rantala. "From the perspective of our strategy, it is important that we have tied the interest margin of the RCF to climate change mitigation and occupational safety, which plays a key role in our industry."
 

For further information, please contact:

Jarkko Rantala, CFO, tel. 040 674 1949, jarkko.rantala@srv.fi
 

Distribution:

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SRV in brief

SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes the wellbeing of both the environment and people into consideration. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter - and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.

Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in Finland. In 2022, our revenue totalled EUR 770.1 million. In addition to approximately 1,000 in-house staff, we have a network of around 3,800 partners.