Gränges has entered two new credit facility agreements and refinanced part of the debt portfolio.
The first facility agreement, arranged by Citibank, Danske Bank, Svenska Handelsbanken and Nordea, consists of a revolving credit facility available in several currencies of SEK 3,500 million with a tenor of three years and a term loan of USD 100 million with a tenor of three years. The agreement has a sustainability-linked structure and will be linked to Gränges’ sustainability ambitions. Danske Bank and Nordea have acted as sustainability coordinators.
The second facility agreement, entered into with AB Svensk Exportkredit, consists of a term loan of SEK 200 million with a tenor of four years, a term loan of USD 40 million with a tenor of two years and a term loan of USD 20 million with a tenor of three years. This agreement also has a sustainability-linked structure and will be linked to Gränges’ sustainability ambitions.
“To continue integrating Gränges' ambitious sustainability agenda in our financing is a matter of course for us at Gränges. We work with sustainability in all dimensions of our business. It strengthens our long-term development as well as the company's financial profile, and it makes Gränges more attractive as a company. We are very pleased that our lenders are also supporting this development”, says Oskar Hellström, CFO and Deputy CEO at Gränges.
In connection with entering the new facility agreements, a corresponding amount will be repaid on the original facility agreements. The sustainability linkage will be activated during 2023.