Outokumpu takes new line, draws forward start to refinance
Finnish steel group Outokumpu has completed a new €900m revolving credit line, replacing two outstanding facilities totalling €1bn. The new line has a maturity date of June 2015, with a one year extension option available.
Crédit Agricole, Nordea and SEB were mandated lead arrangers and bookrunners on the deal, while BNP Paribas, Danske Bank, Handelsbanken, JP Morgan, Pohjola, Royal Bank of Scotland and Swedbank were arrangers.
The new line replaces a €750m three year line agreed in 2011 — which had two one
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