Vestas Wind Systems has signed a revolving credit facility worth 1.3 billion euros. The new facility is for a five-year period, with an option to extend it for up to another two years.
Nine international banks participated in the transaction, with Commerzbank AG and DnB NOR Bank ASA acting as joint coordinators and bookrunners. The credit facility is for general corporate purposes and will be replacing an existing syndicated facility maturing in June 2012.
As part of the strengthening of the financial competencies, Vestas' group treasury department plans to relocate to Zurich, Switzerland.