May 20, 2020 / 11:03 AM / 9 days ago

BRIEF-Finnair Provides Details On Pension Premium Loan Up To EUR 600 Mln

May 20 (Reuters) - Finnair Plc:

* FINNAIR’S PENSION PREMIUM LOAN UP TO 600 MILLION EUROS IS GUARANTEED BY THE STATE OF FINLAND UP TO 540 MILLION EUROS AND BY A COMMERCIAL BANK UP TO 60 MILLION EUROS

* FINNISH GOVERNMENT HAS TODAY APPROVED THAT STATE OF FINLAND GUARANTEES FINNAIR’S PENSION PREMIUM LOAN UP TO 540 MILLION EUROS

* AIMS TO FURTHER SECURE ITS CASH POSITION AND BUSINESS CONTINUITY ALSO AFTER EXCEPTIONAL SITUATION CAUSED BY CORONA CRISIS.

* FINNAIR PLANS TO DRAW PART OF PENSION PREMIUM LOAN DURING Q2 OF 2020.

* COMMERCIAL BANK HAS GUARANTEED UP TO 60 MILLION EUROS OF LOAN.

* PLANS TO DRAW PART OF PENSION PREMIUM LOAN DURING Q2 OF 2020. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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