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SATO obtains a seven-year loan of €75 million without asset based securities from OP

Written by Customer Service on . Posted in Public Companies.

SATO Corporation, press release 14 December 2021 at 2:15 pm

SATO Corporation and OP Corporate Bank plc have agreed upon a bilateral loan of €75 million without asset-based securities and the margin is linked to achieving SATO’s main sustainability targets. The agreement of the seven-year loan was signed in Helsinki on 13 December 2021, and the cash proceeds will be used for the Group’s general financing purposes.

For more information, please contact:

SATO Corporation
Markku Honkasalo, CFO, tel. +358 201 34 4226
Henry Lindqvist, Group Treasurer, tel. +358 50 317 2352

SATO is one of Finland’s leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2020, SATO owned close to 26,800 apartments in Finland’s largest growth centres and in St. Petersburg.

We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.

SATO Group’s net sales in 2020 were EUR 303.4 million, operating profit EUR 179.6 million and profit before taxes EUR 129.5 million. The value of SATO’s investment properties is roughly EUR 4.8 billion. 

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