Akzo Nobel NV (AkzoNobel) signed a new, €1.8 billion five year multi-currency syndicated revolving credit facility to refinance its existing €1.5 billion facility.
The transaction – which has two, one-year extension options – was very well supported by the company's relationship banks during syndication, causing the facility to close oversubscribed.
The facility underpins the company's strong credit and liquidity profile, and is intended for general corporate purposes. AkzoNobel is rated Baa1 by Moody's and BBB+ by Standard & Poor's.