Debt Financing

Most of the Group's interest-bearing debt is raised centrally by the Group's parent company. The Group seeks to reduce liquidity and refinancing risks with a balanced maturity profile of loans as well as by keeping sufficient amount of credit lines available.

The maturity profile of the Group's loan portfolio is good. Revolving credit facilities of 60 MEUR will mature in 2021 to 2023. The Group's bank facilities are unsecured and include normal net debt, EBITDA, equity and liquidity based financial covenants.

In addition to the above facilities, the Group has a Finnish commercial paper program of EUR 80 million. The program is utilized to satisfy the Group's short term funding needs cost-efficiently.

maturity_profile_for_interest-bearing–debt 2020