SKF refinances with €800 million five-year multicurrency revolver

By Marisa Wong

Los Angeles, June 16 – SKF AB has successfully signed an €800 million multicurrency revolving credit facility, according to a press release.

The facility has a tenor of five years with two one-year extension options.

The revolver will serve as a backup liquidity facility for general corporate purposes. It refinances SKF’s existing and undrawn €500 million syndicated credit facility and a separate €250 million bilateral credit facility, which in aggregate totaled €750 million.

The facility is supported by a group of 10 global and regional banks. Bank of America and SEB acted as joint coordinating mandated lead arrangers and bookrunners. In addition, Bank of China, BNP Paribas, Citibank, Deutsche Bank, Handelsbanken, HSBC, JPMorgan and Nordea joined the facility as mandated lead arrangers and bookrunners.

SKF is a bearing and seal manufacturing company based in Gothenburg, Sweden.

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