Tieto refinanced its long-term syndicated credit facility with a new facility of EUR 150 million ($165 million). Tieto signed a new EUR 150 million long-term syndicated revolving credit facility (RCF) to refinance its existing long-term syndicated RCF.

The following seven banks participated as mandated lead arrangers in the transaction BNP Paribas, Danske Bank, ING, Nordea, Pohjola Bank, SEB and Swedbank. Pohjola Bank acted as the coordinator of the transaction on behalf of Tieto.

The existing EUR 100 million facility was agreed in 2011 and was due to mature in May 2016. The new EUR 150 million unsecured syndicated revolving credit facility matures on 22 May 2020 with two one-year extension options.

Tieto is an IT services company in the Nordics providing full lifecycle IT services.