DSM renews €500 million credit facility
The unsecured credit facility of €500 million is for a minumum term of 5 years and a maximum term of 7 years. In addition to this credit facility, DSM has a committed credit facility of €400 million (maturing in April 2013) as well as a commercial-paper program amounting to €1,500 million. DSM will use the commercial-paper program to a total of not more than €900 million. The agreements for the committed credit facilities neither have financial convenants nor material adverse changes clauses. The credit facilities and commercial-paper program are fully undrawn.
DSM is rated A3 by Moody’s and A by Standard & Poor’s, both with a stable outlook.