Cargotec to Issue EUR 225 Million Private Placement
Cargotec Corporation has placed a EUR 225 million (USD 300 million) Private Placement with U.S. institutional investors. 14 U.S. institutional investors participated in the transaction and the deal was upsized from EUR 150 million to EUR 225 million due to strong investor interest. The placement carries maturities ranging between 7 and 12 years and will be funded in February 2007. The proceeds will be used for general corporate purposes. Cargotec has earlier stated its ambition to grow both organically and through acquisitions. The private placement diversifies Cargotec's funding structure. The private placement was arranged by Deutsche Bank.
Senior Executive Vice President and CFO
SVP, Investor Relations and Communications
For further information, please contact:
Kari Heinistö, Senior Executive Vice President and CFO, tel. +358 204 55 4542
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 55 4281
Cargotec Corporation is the world's leading provider of cargo handling solutions, which are used in local transportation, terminals, ports, distribution centers, and ships. Cargotec's operations are divided into three strong, global business areas: Hiab, Kalmar, and MacGREGOR, each of which is the market leader in its own segment. In 2005 Cargotec's net sales exceeded EUR 2.3 billion. The company employs some 8,000 people and has activities in more than 160 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.