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23 DECEMBER 2022 AL CIRCLE

Gränges signs arrangements for new credit facilities and refinances existing debt

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

The innovative engineering company that has transformed the industry for more than 125 years, Gränges has entered two new credit facility agreements and refinanced part of the debt portfolio. A three-year term loan for USD 100 million and a three-year term loan for SEK 3,500 million are included in the original facility agreement, which Citibank, Danske Bank, Svenska Handelsbanken, and Nordea structured. The deal will be connected to Gränges' sustainability goals and has a framework that is related to sustainability. Sustainability coordinators include Danske Bank and Nordea.

Gränges signs arrangements for new credit facilities and refinances existing debt

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Under the second facility agreement, signed with AB Svensk Exportkredit, there is a term loan worth USD 40 million and a term loan worth USD 20 million, each of which has a term of 3 years. This agreement will be linked to Gränges' sustainability goals and include a sustainability framework.

Oskar Hellström, the Deputy CEO and CFO of Granges, said, "To continue integrating Gränges' ambitious sustainability agenda in our financing is a matter for us at Gränges. We work with sustainability in all dimensions of our business. It strengthens our long-term development as well as the company's financial profile, and it makes Gränges more attractive as a company. We are very pleased that our lenders are also supporting this development."

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An amount corresponding to the original facility agreement will be repaid with the entry of the new agreement. In 2023, the sustainability connection will be triggered.


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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