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EUR 1,000 million Syndicated Term Loan Facility

Sandvik AB has appointed Barclays Capital, BNP Paribas, Citigroup Global Markets Limited, Nordea Bank AB and Svenska Handelsbanken AB as joint Mandated Lead Arrangers for a EUR 1,000 million Syndicated Term Loan Facility.

BNP Paribas, Barclays and Citigroup will act as Bookrunners with Nordea acting as the Documentation Agent and Handelsbanken acting as the Facility Agent and Swingline Agent.

The Facility has a maturity of 5 years, a margin of 22.5 bp per annum and utilisation fees of 5.0 bp for over 33% drawn, and 7.5 bp for over 67% drawn. The proceeds of the facility will be used for general corporate purposes and to refinance the existing USD 650 million and USD 500 million Revolving Credit Facilities maturing in 2004 and 2007 respectively.

On 7 May 2004, syndication was launched to the market and is expected to close before 25 June 2004. There will be a bank meeting on May 14 in Arlanda, Sweden.

Banks will be invited to participate at one of 2 ticket levels, the details of which are outlined in the table below:

Status Commitment (EUR mm) Participation Fees (bp)
Arranger 75 15
Co-Arranger 40 12.5  

Sandviken, 7 May 2004

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