Loans and credit facilities

Sanoma's funding sources consist of bond, syndicated revolving credit facility, committed bilateral facilities and commercial paper programmes in Finland and Belgium.

Information about the credit facilities is updated quarterly.

Bonds

 Total
 facility
amount
(EUR million)

Outstanding
amount
30.9.2017

2017* 2018 2019 2020
Bond 2019
(Sanoma Corporation)
200 200 200 200 200  

* amount available at the beginning of the year
 

Bank  Facilities

Total
facility
amount
(EUR million)

Drawn
amount
30.9.2017
Undrawn
amount
30.9.2017
2017* 2018 2019 2020
Syndicated revolving
credit facility
(Sanoma Corporation)
500 0 400 400 400 400 400

Term loan
(Sanoma Corporation)

50 50 0 50 50    
Other committed facilities (Sanoma Corporation) 75 0 75 75 75    
Term loan
(SBS Broacasting B.V.)
42 0 0        
Revolving credit facility
(SBS Broadcasting B.V.)
45 0 0        

* SBS Broadcasting B.V. was divested in July 2017

 

Corporate bond 2019

On 19 May 2016, Sanoma Corporation issued a EUR 200 million 3.5-year Senior Unsecured Bond. The bond pays a fixed coupon of 3.50% and had an issue price of 100.00%.

Syndicated revolving credit facility

Sanoma Corporation has a EUR 500 million syndicated revolving credit facility with a group of seven relationship banks. The facility was signed on 8 February 2016 and has a maturity of four years.

In July 2017 the facility was reduced to EUR 400 million.

The Mandated Lead Arrangers for the transaction are ING, Nordea, OP Corporate Bank, Danske Bank and Handelsbanken. SEB and Swedbank act as Lead Arrangers of the facility.

Term loan

Sanoma Corporation signed a EUR 50 million bilateral Term Loan facility on 14 March 2017. The facility has a maturity of 18 months.

Other committed facilities

Sanoma Corporation has a total of EUR 75 million committed bilateral revolving crecit facilities.

Syndicated Term Loan and Revolving Credit Facility for SBS Broadcasting B.V.

SBS Broadcasting B.V., which has been 67% owned by Sanoma Corporation and 33% by Talpa Media, had a EUR 105 million syndicated facility with a group of five banks. The facility was signed on 21 April 2015 and included an EUR 60 million Term Loan and a EUR 45 million Revolving Credit Facility for working capital financing. The facility was terminated upon the sale of SBS Broadcasting B.V. to Talpa Media in July 2017.

Commercial paper programmes

EUR 800 million Finnish commercial paper programme

In Finland, Sanoma has a EUR 800 million commercial paper programme with eight co-operation banks.

The Arrangers for the programme are Nordea Bank AB (publ) Finnish Branch, Aktia Bank Plc, OP Corporate Bank Plc, Bank of Åland Plc, Danske Bank Plc, Skandinaviska Enskilda Banken AB (publ) Helsinki Branch, Svenska Handelsbanken AB (publ), Finnish Branch and Swedbank AB Finnish Branch.

Neither Sanoma nor the notes have a credit rating. 

EUR 300 million Belgian commercial paper programme

In Belgium, Sanoma has EUR 300 million commercial paper programme, arranged by ING Belgium SA/NV.

Neither Sanoma nor the notes have a credit rating.