Nordea acted as coordinating bookrunner and mandated lead arranger on two revolving credit facilities totaling €800 million ($872 million) for Metso.
The new €600 million ($654 million) multi-currency revolving credit facility agreement was signed with a syndicate of 10 banks. This new facility is part of the preparations for the planned Metso Outotec transaction while it also refinances Metso’s existing €500 million ($545 million) revolving credit facility. The facility will transfer to Metso Outotec at the completion of the contemplated combination of Outotec and the Metso Minerals Business.
The facility will be used for the general corporate purposes of the Metso Group and later, following the transfer to Metso Outotec, for general corporate purposes of the combined company. The facility has a tenor of five years, with two one-year extension options, dependent on the approval of the lenders.
The other mandated lead arrangers on the facility were BBVA, BNP Paribas, Citi, Commerzbank, HSBC, OP Corporate Bank, Scotiabank (Ireland) Designated Activity Company, SEB and Standard Chartered Bank.
In addition to the above, Metso signed a new €200 million ($218 million) multi-currency revolving credit facility agreement for the future Neles Corporation with a syndicate of four banks. The new facility will be used for general corporate purposes of the Neles Group and will become available at the completion of the contemplated partial demerger of Metso Corporation. The facility has a tenor of three years, with two one-year extension options dependent on the approval of the lenders.
The other mandated lead arrangers on the facility were BNP Paribas, OP Corporate Bank and SEB.
Metso is an industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. Metso employs over 14,000 people in more than 50 countries.