Sandvik has concluded an agreement for a guaranteed credit facility with a five-year term, with the option to extend it up to seven years. The facility, which is divided into two currencies comprising 650 MEUR and 5 billion SEK, has been placed at the disposal of the company by the following banks: Handelsbanken, Nordea and SEB acting as coordinators, 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 secure liquidity in this manner for the years ahead while also confirming the banks included in our core relationship bank group,” says Anders Örbom, Group Treasurer, Sandvik AB.

The credit facility will replace earlier facilities totaling 1.5 billion EUR and will comprise Sandvik’s primary liquidity reserve, which is considered adequate to meet all normal, short-term liquidity requirements.

Sandviken, 3...