UPM has secured a new syndicated revolving credit facility worth Euro 1.25 billion, with a five-year maturity and two optional one-year extension periods. The agreement, signed with a syndicate of 15 banks, refinances the company's existing Euro 750 million facility from March 2020 and a Euro 1 billion facility from December 2023, according to UPM.
Crédit Agricole Corporate and Investment Bank, Danske Bank and Nordea Bank acted as coordinating bookrunners and mandated lead arrangers for the facility. The funds are allocated for general corporate purposes.
UPM is a global producer of renewable fibres, advanced materials, decarbonization solutions and communication papers.
