SSAB extends bank debt, announces new five-year revolving facility

By Tali Rackner

Norfolk, Va., April 22 – SSAB AB (publ) announced plans to refinance its bank debt, according to a Friday press release.

The financing includes an extension of debt maturities of SEK 3.2 billion, existing bank guarantee extensions of SEK 3.7 billion and a new €300 million to €500 million five-year revolving credit facility.

According to the release, €300 million of the new revolver is committed by three relationship banks and the remaining amount will be syndicated to other relationship banks.

The financing is expected to secure the refinancing needs during the next three to five years, the company said.

The issuer is a Stockholm-based steel producer.

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