Kongsberg NOK 2.3bn revolving credit facility (2017)
General corporate purposes; replaced the NOK 1.5bn facility in place since 2014
Key terms
- Borrower or issuer
- Kongsberg Gruppen
- Date
- 15 Mar 2017
- Type
- Bank facility
- Amount
- NOK 2.3bn (US$278m)
- Maturity
- 2022 (plus two one-year extension options)
Recorded terms
- Structure
- Five-year revolving credit facility with two one-year extension options, signed with a syndicate of five banks; undrawn at signing
- Lenders and arrangers
- Danske Bank, DNB, SEB, J.P. Morgan and Nordea, bookrunners and mandated lead arrangers; SEB and DNB, coordinators; SEB, agent
- Country
- Norway
Parties
- Kongsberg Gruppen borrower or issuer
- Lenders: J.P. Morgan, Nordea, Danske Bank, SEB, DNB
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 28 Feb 2017 | Hensoldt €920m term loan (2017-2018) | Bank facility | €920m |
| 27 Jun 2017 | Mercury Systems US$400m revolving credit facility (2017 refinancing) | Bank facility | US$400m |
| 30 Sep 2016 | Textron US$1.0bn revolving credit facility (2016) | Bank facility | US$1bn |
| 16 Aug 2016 | Leidos US$3.28bn secured credit facilities for the Lockheed Martin IS&GS combination | Bank facility | US$3.28bn |
| 12 Aug 2016 | Engility US$1.045bn senior secured credit facilities | Bank facility | US$1.04bn |
More from Kongsberg Gruppen
| Date | Financing | Type | Amount |
|---|---|---|---|
| 23 May 2023 | Kongsberg Gruppen NOK 1bn 4.85% senior unsecured bond due 2030 | Bond | NOK 1bn |
| 22 Mar 2022 | Kongsberg NOK 2.5bn revolving credit facility (2022) | Bank facility | NOK 2.5bn |
| 22 Feb 2021 | Kongsberg Gruppen NOK 500m FRN due 2026 | Bond | NOK 500m |
| 21 Nov 2018 | Kongsberg Gruppen NOK 1bn senior unsecured FRNs (2021 and 2024) | Bond | NOK 1bn |
| 25 Nov 2016 | Kongsberg Gruppen NOK 1bn unsecured bonds (FRN 2020 and 2.90% 2023) | Bond | NOK 1bn |
| 26 May 2016 | Kongsberg Gruppen NOK 2bn unsecured bonds (FRN 2021 and 3.20% 2026) | Bond | NOK 2bn |
M&A and investment involving Kongsberg Gruppen
| Date | Deal | Type | Value |
|---|---|---|---|
| Dec 2018 | Kongsberg NOK 5.0bn rights issue (Rolls-Royce Commercial Marine) | Equity raise | NOK 5bn |
| 24 May 2016 | Kongsberg acquisition of 49.9% of Patria | Stake sale | €283.5m |
Sources
- Kongsberg Gruppen stock exchange release: signs new revolving credit facility newsweb.oslobors.no · 15 Mar 2017
About this record
Record DEF-2017-0020, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
A revolving or term facility is a relationship loan from a bank group, priced at a margin over a reference rate, with financial covenants and an agent.
