Gränges closed its acquisition of Noranda’s downstream aluminum rolling business in the U.S. Danske Bank and Svenska Handelsbanken provided a $300 million five year credit facility to support the transaction.
In conjunction with the acquisition, Gränges has also refinanced its existing revolving credit facility with a new three-year multi-currency revolving credit facility of SEK 1.2 billion ($140 million). The commitments under the facilities agreement are split equally between DanskeBank, Danmark, Sverige Filial and Svenska Handelsbanken. Svenska Handelsbanken is acting as facility agent for the facilities.
Sweden-based Gränges is a global supplier of rolled products for brazed aluminium heat exchangers.