We have advised Teknos Group Oy (Teknos), a global coatings company, on its debt refinancing with a new unsecured €115m sustainability-linked loan.
Teknos offers a wide range of paints and coatings for the manufacturing industry, building professionals and consumers. Established in 1948, it is one of Finland’s largest family-owned businesses.
The new syndicated agreement includes a €50m term loan for refinancing the Group’s existing indebtedness and a €65m revolving credit facility for general corporate purposes. The agreement has a three-year maturity with two one-year extension options subject to lenders’ approvals. The loan margin will increase or decrease depending on Teknos’ performance with its chosen sustainability indicators: Lost Time Incident Frequency Rate (LTIFR), Scope 1+2 emissions intensity (kgCO2e/metric tons produced), and Scope 3 emissions intensity (kgCO2e/metric tons produced).
