Vestas Wind Boosts Revolving Credit Line to $1.4 BillionAlex Morales
Vestas Wind Systems A/S, the Danish wind-turbine maker that returned to profit in the final three months of last year after nine quarters of losses, said it increased the size of a credit facility obtained last month.
Vestas completed and signed the agreement with six banks for a 1 billion-euro ($1.4 billion) revolving credit line that runs for five years, the Aarhus-based manufacturer said today in an e-mailed statement. That’s 150 million euros more than the company suggested on Feb. 3.
Societe Generale SA and UniCredit SpA were added to the group of four banks already announced in February. The other lenders are Nordea Bank AB, DNB ASA, HSBC Holdings Plc and Skandinaviska Enskilda Banken AB.
“The credit facility has been raised on attractive terms that reflect the improved credit profile of Vestas,” the company said. It “will provide a stable, long-term financing platform that adequately supports Vestas’ objective of profitable growth.”