Electrolux signed an agreement for an inaugural sustainability-linked revolving credit facility of €1 billion ($1.12 billion). The coordinating bookrunners and mandated lead arrangers for the facility are Citi and SEB.
Electrolux said, in accordance with the terms of the transaction agreement, it will pay the termination fee of $175 million to General Electric.
General Electric has terminated its agreement to sell its appliances business to Electrolux. GE noted it is entitled to a break-up fee of $175 million from Electrolux.
The Justice Department filed an antitrust lawsuit to stop Electrolux from buying GE’s appliance business. Official says “proposed acquisition would leave millions of Americans vulnerable to price increases.”