Sandvik amends credit facility at improved conditions
Sandvik has completed an amendment of its guaranteed credit facility established in February 2012 and maturing in 2018. The facility, which is divided into two currencies comprising 650 million EUR and 5 billion SEK, has been placed at the disposal of the company by the following banks: Handelsbanken, Nordea and SEB acting as Coordinating Mandated Lead Arrangers and Bookrunners, 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.
"I am pleased that we have been able to amend the facility to better reflect current market standards and reduced borrowing margins. It secures liquidity for the years ahead while also reconfirming the banks included in our core relationship bank group," says Anders Örbom, Group Treasurer, Sandvik AB.
The credit facility comprise Sandvik's primary liquidity reserve, which is considered adequate to meet all normal, short-term liquidity requirements.
Stockholm, 20 December 2013
For further information, please contact Anders Örbom, Group Treasurer, Sandvik AB tel +46 8 456 13 21 or Magnus Larsson, Vice President Investor Relations, Sandvik AB, tel: +46 8 456 12 40.
The Sandvik Group
Sandvik is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. In 2012, the Group had about 49,000 employees and representation in 130 countries, with annual sales of about 99,000 million SEK.