Assa Abloy borrows a $1.2B syndicated loan

Assa Abloy has together with 14 banks entered into a syndicated multicurrency revolving credit facility amounting to $1.2 billion (EUR 900 million). The facility has a tenor of at least five years and its main purpose is to refinance an existing facility amounting to nearly  $1.5 billion maturing in 2014.

The credit is to primarily serve as a strategic back up facility and can be utilized in optional currencies such as EUR, GBP, SEK and USD.

The new facility is currently unutilized.