Vestas Wind Systems secures €1.05 billion five-year revolver

By Lisa Kerner

Charlotte, N.C., June 3 – Vestas Wind Systems A/S signed a new €1.05 billion five-year revolving credit facility that was arranged by seven banks comprising Nordea, HSBC, SEB, DNB, Unicredit, Societe Generale and Citigroup.

The facility has an option, at the lenders’ discretion, to extend the maturity for up to two additional years, according to a news release.

Vestas will use the proceeds to refinance the company’s existing €1 billion revolving credit facility dated March 31, 2014, enabling it to extend its debt maturity at favorable pricing and terms. Proceeds are also available for loans as well as project-related guarantees, with a sublimit for loans of up to €500 million.

Vestas, based in Aarhus, Denmark, is an energy company dedicated exclusively to wind energy.

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