Fortum Corporation has signed a €1,750 million (US$1,984 million) syndicated Multicurrency Revolving Facility Agreement.
The committed facility will be used for general corporate purposes and replaces the existing credit facility signed in July 2011. The facility has an initial maturity of five years and Fortum may request two one-year extension options.
The successful syndication was well oversubscribed and a total of 17 banks participated in the facility.
Nordea and The Royal Bank of Scotland acted as coordinators of the facility. Other participating banks are Barclays Bank PLC, MUFG, BNP Paribas Corporate & Institutional Banking, Citi, Danske Bank, Deutsche Bank, Handelsbanken, ING, Intesa SanPaolo S.p.A., Mizuho Bank Ltd., OP Corporate Bank plc, SEB, Société Générale, Swedbank AB (publ) and Unicredit Corporate & Investment Banking.
In late May we reported that Fortum signed an agreement with the four biggest owners of Ekokem Corporation, representing approximately 81% of the shares, to acquire their shareholding in the company for approximately €470 million.Ekokem is Nordic circular economy company specialised in material and waste recycling, final disposal solutions, soil remediation and environmental construction.