BNP Paribas, Others Lead Outokumpu Revolver
Outokumpu announced it entered new €900 million ($1.23 million) revolver maturing in February 2017.
BNP Paribas, Credit Agricole Corporate and Investment Bank, Danske Bank, Svenska Handelsbanken, JP Morgan, Nordea, Pohjola Bank, The Royal Bank of Scotland, Skandinaviska Enskilda Banken and Swedbank act as mandated lead arrangers and lenders of the new facility.
The facility will replace the facility for the same amount signed on July 12, 2013 and maturing in June 2015.
The new revolving credit facility is subject to certain conditions, including the closing of the divestiture of the Terni and VDM units to ThyssenKrupp, and finalization of a loan documentation, which is expected in February 2014. The facility agreement will include financial covenants concerning gearing and liquidity.
Outokumpu is a global provider of stainless steel and high-performance alloys.