Oriflame refinances credit facilities

Published: 26-May-2011
Finance

Signs two revolving credit facilities amounting to €430m


Sweden’s Oriflame Cosmetics has signed two revolving credit facilities, amounting to €430m in total, with its core relationship banks. A €330m five-year revolving facility was joined by ING, HSBC Bank plc, Nordea, RB International and SEB, while a €100m one-year revolving facility was joined by Nordea and SEB.

According to the direct seller, the facilities will be used for general corporate purposes and will refinance its existing credit facilities of €400, signed December 2009.

“This is a step to further strengthen the bonds with our core banks which enables us to ascertain the company’s long term financing while decreasing our financing costs at the same time,” said Gabriel Bennet, Oriflame’s cfo.
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