Sandvik Renews Credit Facility

June 30, 2016 | By Business Wire News

SANDVIKEN, Sweden

Regulatory News:

Sandvik AB (STO:SAND) and Sandvik Treasury AB have signed a five-year SEK 9 billion Syndicated Revolving Credit Facility, with the option to extend up to seven years.

The credit facility comprises Sandvik’s primary liquidity reserve, which is considered adequate to meet all normal, short-term liquidity requirements and it refinances the existing SEK 5 billion and EUR 650 million Revolving Credit Facility maturing in February 2018.

The credit facility has been placed at the disposal of Citi, Handelsbanken and HSBC as Coordinating Mandated Lead Arrangers and Bookrunners, in addition to Bank of Tokyo-Mitsubishi, Danske Bank, Deutsche Bank, J.P. Morgan, Royal Bank of Scotland, SEB, Societe Generale, Standard Chartered Bank and Swedbank.

These banks will form Sandvik’s core relationship bank group going forward.

Stockholm, 30 June 2016

Sandvik AB

Sandvik Group

Sandvik is a high-tech and global engineering group offering advanced products and services that enhance customer productivity, profitability and safety. We hold world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. In 2015, the Group had about 46,000 employees and sales of about 91 billion SEK in more than 150 countries.

This information was brought to you by Cision http://news.cision.com