Boliden signs an 85 MEUR EIB loan
Boliden has entered into a credit facility amounting to a total of up to 85 million Euros with the European Investment Bank (EIB). The loan, available in multiple currencies, has a maximum tenor of 10 years from being utilized and is linked to the expansion of Boliden’s electronic scrap recycling facility at the Rönnskär smelter. The loan is planned to be utilized from 2012.
“This facility improves Boliden’s loan portfolio and broadens the lender group. The investment at Rönnskär meets EIB’s requirements, including a strong environmental profile. The EIB’s participation is a sign of quality that we are very pleased with,” says Mikael Staffas, Boliden’s CFO.
At the end of Q3 2011 Boliden had a net debt of MSEK 5 594. The payment capacity (liquid assets and binding loan commitments) was MSEK 9 569. The average duration of the total credit facilities was 3.4 years. This new facility will increase both the payment capacity and the average duration.
For further information, please contact:
Frans Benson, Director Investor Relations, Boliden AB, tel +46 8 610 15 23
Boliden is a leading European metals company whose core competence is in the fields of exploration, mining, smelting and recycling. Boliden’s main metals are zinc and copper. Other important metals extracted and refined include lead, gold and silver. The operations are conducted in two Business Areas: Mines and Smelters. The number of employees is approximately 4 400 and the turnover in 2010 amounted to approximately SEK 37 billion. Its shares are listed on NASDAQ OMX Stockholm, segment Large Cap and on the Toronto Stock Exchange in Canada.