Cargotec Funds Earlier Announced Private Placement
Cargotec Corporation has funded its EUR 225 million (USD 300 million) Private Placement with U.S. institutional investors announced in December 2006. The placement has been fully hedged in December through Cross Currency and Interest Rate Swaps into a fixed interest rate euro loan. The fixed euro-based interest rate on the loan varies between 4.525 and 4.756 percent depending on the maturity, which varies between 7 and 12 years. The proceeds will be used for general corporate purposes.
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 is the world's leading provider of cargo handling solutions whose products are used in the different stages of material flow in ships, ports, terminals, distribution centers and local transportation. Cargotec Corporation's brands, Hiab, Kalmar and MacGREGOR, are market leaders in their fields and well-known among customers all over the world. Cargotec's net sales are EUR 2.6 billion. The company employs close to 9,000 people and operates in approximately 160 countries. Cargotec's class B shares are quoted on the Helsinki Stock Exchange.