But the deal commits Vestas to a new, more disciplined way of operating, by curtailing its financial room for manoeuvre.
The core of the agreement is a €900m ($1.16bn) syndicated loan facility with its existing lender group of nine international banks. This is structured as a €650m revolving credit facility and a €250m amortising term loan, and replaces the current syndicated facility of €1.3bn. Including other related deals, Vestas ends up with credit facilities of €1.155bn, as well as a corporate eurobond of €600m.
Jacob
Pedersen,
an
analyst
at
Denmark’s
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