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RLPC-Rautaruukki launches 300 mln euro refinancing-sources

Fri May 29, 2009 12:44pm EDT

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LONDON, May 29 (Reuters) - Finnish metals group Rautaruukki (RTRKS.HE) has launched syndication of a three-year, 300 million euro ($419.8 million) financing, banking sources said on Friday.

The financing, which is being arranged by Nordea and Bank of Tokyo-Mitsubishi UFJ, is expected to close at the end of June, one of the sources said.

The facility, which is not underwritten, will replace a 300 million euro revolving credit facility which matures in 2010.

That facility was arranged in 2005 by Bank of Tokyo-Mitsubishi, Danske Bank, Nordea and SEB and paid a margin of 35 basis points (bps) over EURIBOR, according to Thomson Reuters LPC data.

Rautaruukki supplies metal-based components, systems and integrated systems to the construction and engineering industries. (Reporting by Alasdair Reilly; Editing by David Holmes)



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