Malmo / SE. (aak) AarhusKarlshamn AB (AAK) has signed two new fully committed credit facilities. The facilities will be used to refinance existing facilities which mature during the autumn 2011 and to finance current operation and potential acquisitions. Both loan agreements have a maturity of five years and are fully committed facilities.
One of the new credit facilities is a «Multicurrency Revolving Facility», a club deal of 330 million EUR (3’000 million SEK) with Nordea, Handelsbanken and Nykredit. All banks contribute with equal share. Nordea has acted as Co-ordination Agent. The other loan agreement is a 180 million USD (1’200 million SEK) bilateral «Multicurrency Revolving Facility» with Nordea. The new loans together with the seven year loan of 1’000 million SEK with Nordea signed during the summer 2010 and partly guaranteed by EKN – implies that AAK has prolonged the debt maturities significantly. Altogether, the Group now has committed credit facilities aggregating 6’000 million SEK with a maturity of five years or more. The new loan terms also includes significantly enhanced flexibility concerning increased raw material prices.
