Finland-based steel producer Outokumpu has announced that it has signed a three-year €900 million revolving credit facility to be used for general corporate purposes with a group of banks. The new credit facility replaces the comparable five-year €1 billion facility signed in June 2005.
The loan agreement includes a financial covenant based on gearing.
Banks providing the credit include Nordea, ABN AMRO, Bank of Tokyo-Mitsubishi, BNP Paribas, CALYON Crédit Agricole, Handelsbanken, Pohjola Bank, Sampo Bank and SEB. Commerzbank Aktiengesellschaft, Hamburg branch and J.P. Morgan participated as arrangers and ING as co-arranger.