Skanska Financial Services AB, a unit of the Nordic region’s biggest construction company Skanska AB (SKAB), said it signed a 600 million-euro ($755 million) revolving credit facility to refinance existing debt.
The five-year loan will replace the Stockholm-based company’s 750 million-euro facility signed in 2007 and due to mature in June 2014, facility agent SEB AB said in an e-mailed statement.
Nordea Bank AB (NDA) and Svenska Handelsbanken AB arranged the debt as bookrunners, along with SEB, the banks said. Nine additional lenders participated in the loan syndicate as mandated lead arrangers.
In a revolving credit, money can be borrowed again once it’s repaid.
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