Sandvik inks SEK 11 billion five-year sustainability-linked revolver

By Rebecca Melvin

Concord, N.H., June 15 – Sandvik AB signed a SEK 11 billion revolving credit facility linked to its sustainability targets with a group of 14 banks, according to a company release.

The facility has a five-year tenor, with two one-year extension options, and will be used for general corporate purposes and to refinance the company’s existing SEK 9 billion credit facility.

The new credit facility is linked to Sandvik’s sustainability targets for 2030 to reduce carbon emissions by 50% and increase waste circularity to 90%.

The interest margin on the facility is affected positively or negatively depending on whether the target levels are met.

SEB, Citibank and Handelsbanken acted as coordinating lead arrangers and bookrunners. Citibank was the documentation agent for the facility, SEB was the sustainability coordinator, and Handelsbanken was the facility agent.

Based in Stockholm, the multinational engineering company specializes in metal cutting, digital and additive manufacturing, mining and construction, stainless and special steel alloys and industrial heating.

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