Vestas signs €1bn credit facility
Danish wind group Vestas said it has signed a new five-year, €1bn ($1.37bn) revolving credit facility.
The total – which the company said had been “raised on attractive terms that reflect the improved credit profile of Vestas” – is €150m more than the sum announced by the group when it unveiled the original agreement in early February.
The new credit arrangement is for general corporate purposes and provides for cash drawings and project-related guarantees, said Vestas.
The agreement includes six banks – Nordea, DNB, HSBC, SEB, Société Générale and UniCredit.
The company said: "Vestas is confident that the new credit facility will form a stable foundation for its strategy of profitable growth.
"Going forward, Vestas will continue to assess its debt financing requirements and options across all non-public and public debt markets."