GOTHENBURG, Sweden,
June 16, 2023 /PRNewswire/ -- SKF has
successfully signed a EUR 800 million
multicurrency revolving credit facility. The facility has a tenor
of five years with two one-year extension options, and it will
serve as a back-up liquidity facility for general corporate
purposes. It refinances SKF's existing and undrawn EUR 500 million syndicated credit facility and a
separate EUR 250 million bilateral
credit facility, which in aggregate totaled EUR 750 million.
Niclas Rosenlew, CFO and Senior Vice President, says: "The
renewed facility gives us a solid long-term liquidity structure in
addition to our already strong balance sheet. It also highlights
the strength of our strategy and ability to raise committed
financing in the current market."
The facility is supported by a group of ten leading global and
regional banks. Bank of America and SEB acted as joint
Co-ordinating Mandated Lead Arrangers and Bookrunners in the
process. In addition, Bank of China, BNP Paribas, Citibank, Deutsche Bank,
Handelsbanken, HSBC, J.P. Morgan, and Nordea, joined the facility
as Mandated Lead Arrangers and Bookrunners.
For further information, please contact:
PRESS: Carl Bjernstam, Acting SKF Media & Press Director
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail:
carl.bjernstam@skf.com
INVESTOR RELATIONS: Patrik
Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104;
patrik.stenberg@skf.com
The following files are available for download:
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https://mb.cision.com/Main/637/3788139/2132099.pdf
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20230616 SKF signs EUR
800 million multicurrency revolving credit facility
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