Sandvik signs SEK 11 billion sustainability-linked revolving credit facility
SANDVIKEN, Sweden, June 15, 2022 /PRNewswire/ -- Sandvik has signed a SEK 11 billion revolving credit facility linked to its sustainability targets, with a group of 14 banks. The facility has a five-year tenor with two one-year extension options, and will be used for general corporate purposes and to refinance the existing SEK 9 billion credit facility.
The new credit facility has a clear link to Sandvik's sustainability targets for 2030 with regards to the ambitions to reduce carbon emissions by
"Sustainability is a fundamental part of our strategy and the way we do business, and this new credit facility is an important step as we work to further integrate sustainability across our operations. It is also a testament of our commitment to our ambitious sustainability targets," says Mats W Lundberg, Head of Sustainability at Sandvik.
SEB, Citibank and Handelsbanken acted as coordinating Mandated Lead Arrangers and Bookrunners. Citibank was the Documentation Agent for the facility, SEB the Sustainability Coordinator and Handelsbanken the Facility Agent.
Stockholm, June 15, 2022
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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SOURCE Sandvik
