Vestas agrees new finance facilities with lenders

Number one wind turbine manufacturer Vestas has reached a new agreements with its banks lenders, which it says will be sufficient to support its business without the need for any new share issue.

The agreement includes a revised €900m syndicated loan facility with the existing lender group of nine international banks structured as a €250m amortising term loan and a €650m revolving credit facility. The revised facility will replace the current syndicated facility of €1,300m.

It also involves revised term loans on an amortising basis with the European Investment Bank for €200m and with the Nordic Investment Bank for €55m.

The terms loans will be amortised by January 2015 and the revolving credit facility will expire in January 2015 with an option to extend it for…

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