Sanoma’s funding sources consist of syndicated term loans, revolving credit facility and commercial paper programmes in Finland and Belgium. The committed revolving credit facility of EUR 300 million serves as a back-up if commercial paper funding would not be available.
Information on credit facilities is updated quarterly or whenever there are significant changes in the debt portfolio.
Sirpa Louhevirta
Group Treasurer
sirpa.louhevirta@sanoma.com
tel. +358 105 1999
On 5 September 2024, Sanoma issued a senior, unsecured 3-year Social Bond of EUR 150 million. More information of the Social Bond is available on top of this page.
Sanoma repaid its earlier senior, unsecured 3-year bond of EUR 200 million, issued on 11 March 2021, in March 2024.
On 16 March 2023, Sanoma issued a hybrid bond of EUR 150 million. The Hybrid Bond does not have a specified maturity date, but Sanoma is entitled to redeem it on 16 March 2026 (the Reset Date), and subsequently, on each interest payment date thereafter. More information of the Hybrid Bond is available on top of this page.
On 7 November 2022 Sanoma signed a EUR 300 million syndicated revolving credit facility with a group of ten banks. The facility has a maturity of three years with two extension options of one year each. The first extension option was used in October 2023, extending the maturity of the facility to November 2026. The second extension option was utilised in September 2024, extending the maturity of the majority of the facility (EUR 269 million) to November 2027.
On 12 October 2023 Sanoma signed a EUR 100 million term loan facility agreement with OP Corporate Bank. Original maturity of the loan was twelve months from the drawdown plus an extension option of ten months. The term loan was amended in September 2024, extending the final maturity to September 2027.
On 7 June 2022 Sanoma signed a EUR 250 million syndicated term loan with a group of three banks. The term loan was syndicated to wider bank group in November 2022, after which it had ten lenders in total. The term loan was used to finance the acquisition of Pearson Italy and Germany (signing on 7 June 2022 and closing on 31 August 2022) and to prepay the remaining part of EUR 100 million of the earlier term loan that was utilised in 2019 for the acquisition of Iddink.
The maturity of the term loan is four years with one instalment of EUR 50 million in September 2025. The remaining facility expires in August 2026. In October 2024, Sanoma prepaid EUR 80 million of the term loan.
On 2 December 2020, Sanoma signed a EUR 200 million syndicated term loan facility with a group of ten relationship banks. The term loan was used to finance the acquisition of Santillana Spain, which was closed on 31 December 2020.
The term loan had annual instalments of EUR 25 million starting from Q4 2022, with a final repayment at maturity in December 2024. The remaining EUR 100 million of the term loan was prepaid in full in September 2024.
In Finland, Sanoma has an EUR 800 million commercial paper programme with eight co-operation banks. The arrangers for the programme are Nordea Bank AB, 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.
In Belgium, Sanoma has a EUR 300 million commercial paper programme, arranged by ING Belgium SA/NV. Neither Sanoma nor the notes have a credit rating.
