Autoliv has refinanced its existing US$1.1bn multi-currency revolving credit facility agreement with a group of 14 banks. The facility has a five-year maturity, with extension options for up to two more years. The facility agreement is for general corporate purposes and replaces the existing $1.1bn syndicated facility, which matures in April 2018.
Autoliv said the refinancing of its existing core $1.1bn credit facility had been successfully closed, with a significant over subscription from new and existing lenders.
As with all of the existing principal debt arrangements, this financial commitment does not have any financial covenants, i.e. performance-related restrictions.