SKF signs EUR 800 million multicurrency revolving credit facility
Gothenburg, 16 June 2023: SKF has successfully signed a EUR 800 million multicurrency revolving credit facility. The facility has a tenor of five years with two one-year extension options, and it will serve as a back-up liquidity facility for general corporate purposes. It refinances SKF’s existing and undrawn EUR 500 million syndicated credit facility and a separate EUR 250 million bilateral credit facility, which in aggregate totaled EUR 750 million.
Niclas Rosenlew, CFO and Senior Vice President, says: “The renewed facility gives us a solid long-term liquidity structure in addition to our already strong balance sheet. It also highlights the strength of our strategy and ability to raise committed financing in the current market.”
The facility is supported by a group of ten leading global and regional banks. Bank of America and SEB acted as joint Co-ordinating Mandated Lead Arrangers and Bookrunners in the process. In addition, Bank of China, BNP Paribas, Citibank, Deutsche Bank, Handelsbanken, HSBC, J.P. Morgan, and Nordea, joined the facility as Mandated Lead Arrangers and Bookrunners.
Aktiebolaget SKF
(publ)
For further information, please contact:
PRESS: Carl Bjernstam, Acting SKF Media & Press Director
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com
INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; patrik.stenberg@skf.com
SKF is a world-leading provider of innovative solutions that help industries become more competitive and sustainable. By making products lighter, more efficient, longer lasting, and repairable, we help our customers improve their rotating equipment performance and reduce their environmental impact. Our offering around the rotating shaft includes bearings, seals, lubrication management, condition monitoring, and services. Founded in 1907, SKF is represented in approximately 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2022 were SEK 96,933 million and the number of employees was 42,641. www.skf.com
® SKF is a registered trademark of the SKF Group.
Tags:
