Nov 21, 2011. /Lesprom Network/. Papyrus has signed a Euro 260 million term and revolving credit facility agreement with Svenska Handelsbanken, refinancing its current Euro 420 million facility. The extended 5-year facility matures in November 2016, and will be used to increase liquidity efficiency and flexibility, as the company said in a press release received by Lesprom Network. At closing Papyrus has Euro 100 million of unused available revolving credit as back-up for general corporate purposes and to support the financing of Papyrus strategic initiatives. The significant amortization of the current bank debt with Handelsbanken was enabled by strong cash generation during the past years. "We are pleased with the continued support and commitment from our strategic financing partner, Svenska Handelsbanken. The rationale for refinancing is to provide Papyrus freedom to operate and to safeguard a stable platform for the strategic development of the company, besides the basic need to extend the maturity in the current financial macro environment." says Stig Johansson, CFO at Papyrus. Papyrus is one of Europe’s leading merchants in paper, facility supplies and industrial packaging. Papyrus currently has a presence in 22 European countries.