Outokumpu has recently signed a secured EUR 400 M term loan. The margin of the loan is linked to the total recordable incident frequency rate and carbon dioxide emission per ton of stainless steel produced, both in relation to set targets. The proceeds will be used to refinance short term debt and to other general corporate purposes. The loan matures in June 2023 and it shares the security package e.g. with the syndicated revolving credit facility and with the notes due 2024.
Danske Bank A/S and Swedbank AB (publ) coordinated the loan and acted as lead arrangers. Other lead arrangers were OP Corporate Bank plc, Skandinavista Enskilda Banken AB (publ) and Nordea Bank Abp. Other lenders were BNP Paribas SA Bankfilial Sverige, Crédit Agricole Corporate and Investment Bank, Helsinki Branch and Ilmarinen Mutual Pension Insurance Company. Danske Bank acted as the documentation agent and is the facility agent.
