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- Gränges enters into new credit facility agreements and refinances existing debt
Gränges enters into new credit facility agreements and refinances existing debt
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.
For further information, please contact:
Oskar Hellström, CFO and Deputy CEO
email@example.com, phone: +46 8 459 59 00
Gustav Mårtensson, VP Group Treasury
firstname.lastname@example.org, phone: +46 706 44 80 15
Gränges is an aluminium technology company who drives the development of lighter, smarter, and more sustainable aluminium products and solutions. The company offers advanced materials that enhance efficiency in the customers’ manufacturing process and the performance of the final products. Gränges’ innovative engineering has transformed the industry for more than 125 years, and the company holds leading positions in rolled products for thermal management systems, speciality packaging and selected niche applications. Gränges has production facilities and conducts sales on three continents, Asia, Europe, and Americas. The total annual production capacity amounts to 570 ktonnes. Gränges has 2,700 employees and the share is listed on Nasdaq Stockholm.
114 47 Stockholm
+46 84 59 59 00
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