The Volvo Group has, through its subsidiary Volvo Treasury, signed up for new credit facilities of EUR3.5bn (US$ 4.79bn).

The new facilities replace the company’s existing EUR2bn and EUR1.2bn revolving credit facilities signed in 2011 and 2012.

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The new facilities consists of one facility for EUR2.3bn over five years and a second for EUR1.2bn over three years. Both have one-plus-one-year extension options.

BNP Paribas, Danske Bank, HSBC Bank, Svenska Handelsbanken and Swedbank acted as coordinators for the structure of the new facilities as well as the syndication.

Volvo said the credit facilities were “well received” in the market and “closed significantly oversubscribed”.

With 29 participating banks, the credit facilities were well diversified, the truck maker noted.

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