SATO obtains a five-year loan of EUR 70 million without asset-based securities from Aktia Bank Plc
Press release 25 November 2022 at 1:30 pm
SATO Corporation and Aktia Bank plc have agreed upon a bilateral loan of EUR 70 million without asset-based securities.
The agreement of the five-year loan was signed in Helsinki on 24 November 2022, and the cash proceeds will be used for the Group’s general financing purposes.
For more information, please contact:
Markku Honkasalo, CFO, tel. +358 201 34 4226
Henry Lindqvist, Group Treasurer, tel. +358 50 317 2352
SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.
SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.
In 2021, SATO Group’s net sales totalled EUR 298.3 million, operating profit EUR 304.5 million and profit before taxes EUR 259.4 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi