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06 APRIL 2019 AL CIRCLE

Rolled aluminium firm Gränges enters into new credit facility agreements

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

Swedish rolled aluminium firm Gränges reportedly announced two days ago about refinancing the credit agreement that originally happened to finance its acquisition of American subsidiary - Gränges Americas Inc.

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This new credit facility is a revolving one available in several currencies of SEK2000 million with a 3-year term and an option to extend for another 2 years, a  5-year term loan of US$100 million, and a revolving credit facility for Gränges Americas Inc of US$50 million with a 3-year term.

The mandated lead arrangers of these credit agreements were Danske Bank A/S, Danmark, Sverige filial, Nordea Bank Abp, filial i Sverige, and Svenska Handelsbanken AB (publ). Danske Bank A/S served as the facility agent.

In addition, Gränges has entered into a 4-year term loan amounting US$25 million with AB Svensk Exportkredit.

Gränges said it would repay the corresponding amount on the original credit facility. However, the company does not expect any positive or negative impact of the credit facilities on its financial cost for the current year.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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