Helsinki listed maritime supplier is looking for new capital. Therefore, two senior unsecured bonds in the total aggregate nominal amount of EUR 250 mill. € have been issued.
»The reason for the issue of the bonds is to use the proceeds predominantly for refinancing but also for [ds_preview]general corporate purposes«, Cargotec stated. The first 5-year bond in the nominal amount of 150 mill. € matures on 28 March 2022 and it carries a fixed annual interest of 1.75 %, the maritime supplier said in a statement. The offering was allocated to 50 investors.
The other, 7-year bond in the nominal amount of 100 mill. € matures on 28 March 2024 with a fixed annual interest of 2.375 %. The latter was allocated to over 40 investors, it was said. Cargotec added, that it will apply for the listing of the bonds on Nasdaq Helsinki Ltd.
Cargotec describes itself as a leading provider of cargo and load handling solutions. Part of the group are the subsidiaries Kalmar, Hiab and MacGregor. German-based Hatlapa Maschinenfabrik is a subsidiary of MacGregor. In addition, Cargotec took over Schenefeld-based company Interschalt and announced to »re-organize« it. Cargotec‘s sales in 2016 totalled approximately EUR 3.5 billion.
