Norsk Hydro signed a $1 billion revolving multi-currency credit facility with Crédit Agricole CIB and DNB as the coordinating mandated lead arrangers and bookrunners on the transaction.
In addition, Danske Bank and ING acted as bookrunners, while BNP Paribas, Citibank, Goldman Sachs Bank, Handelsbanken, J.P. Morgan, Nordea Bank, and SEB participated in the transaction as mandated lead arrangers. DNB will act as facility agent and documentation agent for the facility.
The facility, which is available for general corporate purposes, carries a two-year tenor with a one-year extension option and replaces Hydro’s undrawn $1.3 billion revolving credit facility. The entire amount is also available as a sub-facility swingline to cover short-term liquidity needs.
