Fortum signs new EUR 2,5 billion revolving loan facility

MOSCOW, July 12 (BigpowerNews) — Fortum Corporation has signed a EUR 2,500 million syndicated Revolving Credit Facility, BigpowerNews reported the press service of Fortum.

The proceeds of the committed facility will be used for general corporate purposes and to refinance the two existing loan facilities signed in December 2004 and April 2008.

The facility has an initial maturity of five years with an extension option of up to seven years. The margin on the loan is 0.375% p.a. and utilisation fee is 0.15 % p.a. if more than 1/3 of the facility is drawn. If more than 2/3 of the facility is drawn, the utilisation fee is 0.30 % p.a.

A very successful syndication raised commitments worth EUR 4,000 million from the invited banks. A total of 20 banks participated the facility.

Barclays Capital and Nordea acted as coordinators of the Facility. Other participating banks are Bank of China, The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, Danske, Deutsche, DnB NOR, Handelsbanken, ING, Intesa Sanpaolo, Mizuho, Morgan Stanley, Pohjola, The Royal Bank of Scotland, SEB, Société Générale, Swedbank and Unicredit.