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US firm leads $1 billion credit facility for Novelis Inc.
Edited by : AL CIRCLE
1 min read
Wells Fargo Capital Finance, part of Wells Fargo & Company, announced it acted as left lead arranger, book manager, and administrative agent on a $1 billion, multi-currency, senior secured revolving credit facility for Novelis, Inc. The credit facility refinanced Novelis’ existing credit facility, and funded working capital needs, capital expenditures and general corporate purposes.
“We are pleased to have been able to complete such an important financing for Novelis as their business continues to grow around the world,” said Henry Jordan, Chairman and Chief Executive Officer of Wells Fargo Capital Finance.
“By utilizing the expertise of our London business unit, Burdale Financial Limited, this transaction demonstrated the expanding capabilities that Wells Fargo Capital Finance offers its U.S.-based clients with overseas operations.”
“Novelis is in the midst of a significant investment program involving major capacity expansions to meet growing demand worldwide,” said Steve Fisher, Senior Vice President and Chief Financial Officer for Novelis. “The amended credit facility will further strengthen our liquidity and provide additional flexibility, helping to support these investments.”
“We are pleased to have been able to complete such an important financing for Novelis as their business continues to grow around the world,” said Henry Jordan, Chairman and Chief Executive Officer of Wells Fargo Capital Finance.
“By utilizing the expertise of our London business unit, Burdale Financial Limited, this transaction demonstrated the expanding capabilities that Wells Fargo Capital Finance offers its U.S.-based clients with overseas operations.”
“Novelis is in the midst of a significant investment program involving major capacity expansions to meet growing demand worldwide,” said Steve Fisher, Senior Vice President and Chief Financial Officer for Novelis. “The amended credit facility will further strengthen our liquidity and provide additional flexibility, helping to support these investments.”
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