On June 1, Finland-based stainless steel producer Outokumpu announced that it has signed a three-year €750 million revolving credit facility to be used for general corporate purposes. The new credit facility replaces the comparable three-year facility signed in June 2009. Outokumpu has also been granted the option to extend the facility by one year in June 2012 and 2013.
The loan agreement includes a financial covenant based on gearing.
Banks providing the credit include Nordea, Handelsbanken Capital Markets Svenska Handelsbanken AB, Danske Bank, Pohjola Bank plc, and Merchant Banking, Skandinaviska Enskilda Banken AB.