Autoliv Enters New $1.1 Billion Revolving Credit Facility

Swedish car safety firm Autoliv Inc. (ALV) said Monday it has entered into a new $1.1 billion multi-currency revolving credit facility agreement with a group of 14 banks.

 
   MAIN FACTS:

-The facility has a five-year maturity, with extension options for up to two more years.

-The new agreement is for general corporate purposes - including the refinancing of its existing $1.1 billion syndicated facility, which matures in November 2012.

-The active bookrunners, co-ordinators and mandated lead arrangers are Mizuho (MFG), Nordea (NDA.SK) and SEB (SEB-A.SK).

-The other bookrunning mandated lead arrangers are BTMU, ING (ING) and Societe Generale (GLE.FR).

-The lead arrangers are DnB Nor (DNBNOR.OS), HSBC (HBC), JP Morgan (JPM) and Morgan Stanley (MS).

-The arrangers are Bank of China (3988.HK), Danske Bank (DANSKE.KO), Deutsche Bank (DB) and Northern Trust (NTRS).

-The banking group reflects Autoliv's strengthened position in Asia with four Asian banks participating.

-This financial commitment does not have any financial covenants, i.e. performance-related restrictions, as with all of the existing principal debt arrangements of Autoliv, Inc.

-Shares closed Friday at SEK

-By Dominic Chopping, Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com

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