Oriflame agrees €400m refinancing of debt
Swedish direct sales company Oriflame Cosmetics has signed a €400m three-year term loan and revolving credit facility with its core relationship banks. According to Oriflame, the facility will be used for general corporate purposes and will refinance its existing credit facilities of €375m (signed April 2006) and €130m (signed February 2009).
Swedish direct sales company Oriflame Cosmetics has signed a €400m three-year term loan and revolving credit facility with its core relationship banks. According to Oriflame, the facility will be used for general corporate purposes and will refinance its existing credit facilities of €375m (signed April 2006) and €130m (signed February 2009).
“With the support of our core banks, Oriflame has with this facility secured its long-term financing. We now have the necessary financing in place for strategic purposes and to support our continued growth,” commented Oriflame ceo Gabriel Bennet.
The facility is co-ordinated by Nordea and SEB, who also acted as bookrunners. DnB NOR ASA (Sweden branch), ING and The Royal Bank of Scotland joined as mandated lead arrangers. The facility was increased after a substantial oversubscription. Raiffeisen Zentralbank Österreich Aktiengesellschaft and HSBC Bank joined as arrangers.