Sandvik AB and Sandvik Treasury AB have signed a five-year SEK 9 billion Syndicated Revolving Credit Facility, with the option to extend for up to seven years.
The credit facility comprised Sandvik’s primary liquidity reserve, which is considered adequate to meet all normal, short-term liquidity requirements and it refinances the existing SEK 5 billion and €650 million Revolving Credit Facility maturing in February 2018.
The credit facility has been placed at the disposal of Citi, Handelsbanken and HSBC as Coordinating Mandated Lead Arrangers and Bookrunners, in addition to Bank of Tokyo-Mitsubishi, Danske Bank, Deutsche Bank, J.P. Morgan, Royal Bank of Scotland, SEB, Societe Generale, Standard Chartered Bank and Swedbank.These banks will form Sandvik's core relationship bank group going forward.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/30062016/new-credit-facility-for-sandvik-433/