Outokumpu’s Eu600m refi tests commitment

Bankers have criticised a newly launched refinancing loan for Outokumpu, the Finnish stainless steel group, stating that the deal will struggle given its tight pricing and the weak credit quality of the borrower.

  • 01 May 2009

Outokumpu, an unrated company viewed as non-investment grade by most bankers, will hold a bank meeting for its Eu600m facility in Helsinki on Tuesday.

The three year deal, which is being led by Nordea, will replace a Eu1bn undrawn five year revolver signed in June 2005.

While the margin is ...

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