Yesterday Kemira signed an EUR 506 million revolving credit facility for five years with a syndicate made up of 11 banks. The arrangement is the Group's largest revolving credit facility and the syndicate of lenders consists of the Group's core banks. All the banks are participating in the arrangement with an equal commitment. Due to oversubscription, the banks' allocations were scaled back to EUR 46 million.
The company will use the proceeds of the loan for general corporate purposes, and the loan will replace the corresponding DEM 825 million arrangement that was signed in June 1997.
The banks participating in the revolving credit facility are Citigroup, CRÉDIT AGRICOLE INDOSUEZ, Helsinki Branch, Danske Bank, Fortis Bank, HSBC Bank plc, ING Belgium SA/NV, NORDEA, OKO BANK, Sampo Bank plc, Skandinaviska Enskilda Banken AB (publ) and Svenska Handelsbanken AB (publ). Nordea Bank Finland Plc, London Branch is acting as the agent for the credit facility.
Further information:
Kaj Friman, Group Treasurer, Kemira Oyj, tel. +358 10 862 1704
Ritva Sipilä, Manager, Funding & IR, Kemira Oyj, tel. +358 10 862 1789