Stockholm, Sweden-based Atlas Copco AB last week announced it has signed an increased and amended $1 billion multi-currency revolving credit facility to be used as a back-up facility to Atlas Copco’s commercial paper programs and for general corporate purposes.
The facility replaces the $600 million credit facility signed April 7, 2005. The final maturity date, April 7, 2012, is unchanged. The mandated lead arrangers and bookrunners were Citi, Deutsche Bank, Nordea Bank AB (publ) and SEB. SEB acted as coordinator of the amendment and restatement process and is the facility agent.
“This increased credit facility, at improved terms, reflects Atlas Copco’s growth and financial strength, and solidifies our relationship with our core banking group” said Ken Lagerborg, group treasurer, Atlas Copco.
Banks re-committing to the facility at an amount of $80 million each are: Calyon, Danske Bank, Fortis, HSBC Bank, ING, Svenska Handelsbanken and Wachovia Bank. The mandated lead arrangers are committing at $110 million each.
Atlas Copco is a global provider of industrial productivity solutions. The products and services range from compressed air and gas equipment, generators, construction and mining equipment, industrial tools and assembly systems, to related aftermarket and rental. In 2006, Atlas Copco had revenues of BSEK 51 (about U.S. $7.58 billion).