AB Electrolux (‘Electrolux’) has today signed a EUR 500 million 5 year extendible Multicurrency Revolving Credit Facility (the ‘Facility’) through Citigroup Global Markets Limited (‘Citigroup’), Handelsbanken Capital Markets, Svenska Handelsbanken AB (publ) (‘Handelsbanken’), Nordea Bank AB (publ) (‘Nordea’), SEB Merchant Banking (‘SEB’) together the ‘Mandated Lead Arrangers’ and ‘Bookrunners’.
The Syndication was oversubscribed; however Electrolux chose not to increase the facility amount. The Facility will be used for general corporate purposes and commercial paper back-stop support.
The following banks joined the Facility as Arrangers at a level of Eur 40m each receiving a participation fee of 7.5 bps; ABN AMRO BANK N.V., STOCKHOLM BRANCH, CALYON, Danske Bank, Deutsche Bank AG London, HSBC Bank plc, SG Corporate and Investment Banking (Corporate and Investment Banking Division of Société Générale).
The Facility margin is 20 bps per annum, the commitment fee is 6 bps per annum with utilisation fees of 2.5 bps and 7.5 bps per annum if the Facility is over 33% and 66% utilised respectively. The Extension option fee will be 1 basis point.
Electrolux is the world’s largest producer of appliances and equipment for kitchen, cleaning and outdoor use. Electrolux is also one of the largest producers in the world of similar equipment for professional users
Further information is available on the company’s website at: www.electrolux.com
For more information please contact:
Jonas Gårdmark, Electrolux Tel: +46 8 738 6636
Michael Dicks, Head Capital Markets London, SEB (in its capacity as facility agent) Tel: +44 20 7329 6679
