Swedish engineer Sandvik AB (SAND.SK) said Friday it has concluded an agreement for a guaranteed credit facility with a five-year term, with the option to extend it up to seven years.

 
   MAIN FACTS:

-The facility, which is divided into two currencies comprising EUR650 million and SEK5 billion, has been placed at the disposal of the company by 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.

-The credit facility will replace earlier facilities totaling EUR1.5 billion and will comprise Sandvik's primary liquidity reserve, which is considered adequate to meet all normal, short-term liquidity requirements.

-At 0808 GMT shares traded 0.3% lower at SEK101.70.

-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com

Sandvik AB (PK) (USOTC:SDVKY)
Historical Stock Chart
From Jul 2024 to Jul 2024 Click Here for more Sandvik AB (PK) Charts.
Sandvik AB (PK) (USOTC:SDVKY)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Sandvik AB (PK) Charts.