SCA signs credit facility agreement of SEK 5 Billion and secures a SEK 1 Billion loan from the Nordic Investment Bank
Svenska Cellulosa Aktiebolaget SCA (publ) has signed a new credit facility of SEK 5 Billion. The new facilitety is a refinancing of the current undrawn credit facilitys of SEK 8 Billion that was signed in 2017. The credit facility is primarily a back-up facility that will remain undrawn and serve as a liquidity reserve for the company.
The facility has a maturity of 5 years containing two extension options of 1 year each. Participating banks are Svenska Handelsbanken, Danske Bank, Skandinaviska Enskilda Banken and Swedbank where they all acted as “Mandated Lead Arrangers” and ”Bookrunners”, with Skandinaviska Enskilda Banken as “Co-ordinator”.
The SEK 1 Billion loan from Nordiska investeringsbanken (NIB) has a maturity of 10 years, and will finance the expansion of production capacity of bleached softwood kraft pulp at the SCA Östrand plant in the municipality of Timrå, Sweden The loan will improve the duration of the maturity profile and will further diversify the funding.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact:
Björn Lyngfelt, Vice President, Communications, +46 60 19 34 98
Toby Lawton, CFO, +46 60 19 31 09
The core of SCA’s business is the forest, Europe’s largest private forest holding. Around this unique resource, we have built a well-developed value chain based on renewable raw material from our own and others’ forests.
We offer paper for packaging and print, pulp, wood products, renewable energy, services for forest owners and efficient transport solutions. 2018 the forest products company SCA had approximately 4,000 employees and sales amounted to approximately SEK 18.8bn (EUR 1.8 bn).
SCA was founded in 1929 and has its headquarters in Sundsvall, Sweden. For more information, visit www.sca.com
Tags: