Sandvik Gets New 5 Year Credit Facility
February 03 2012 - 2:39AM
Dow Jones News
Swedish engineer Sandvik AB (SAND.SK) said Friday it has
concluded an agreement for a guaranteed credit facility with a
five-year term, with the option to extend it up to seven years.
MAIN FACTS:
-The facility, which is divided into two currencies comprising
EUR650 million and SEK5 billion, has been placed at the disposal of
the company by Handelsbanken, Nordea and SEB acting as
coordinators, in addition to Bank of Tokyo-Mitsubishi, Barclays,
Citi, Danske Bank, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan,
Royal Bank of Scotland, Societe Generale, Standard Chartered and
Swedbank.
-The credit facility will replace earlier facilities totaling
EUR1.5 billion and will comprise Sandvik's primary liquidity
reserve, which is considered adequate to meet all normal,
short-term liquidity requirements.
-At 0808 GMT shares traded 0.3% lower at SEK101.70.
-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093;
dominic.chopping@dowjones.com
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