Vestas extends maturity on EUR-1bn credit line, signs IT deal

Denmark’s Vestas Wind Systems A/S (CPH:VWS) said today it has extended the maturity of a EUR-1.05-billion (USD 1.18bn) revolving credit and bonding facility to June 3, 2021.

Vestas announced the signing of the particular five-year credit line in early June 2015. It was arranged by seven banks, namely Nordea (STO:NDA-SEK), HSBC (LON:HSBA), SEB (STO:SEB-A), DNB (STO:DNBO), UniCredit (BIT:UCG), Societe Generale (EPA:GLE) and Citigroup (NYSE:C). That deal included an option to extend the final maturity for up to two additional years.

Also on Wednesday it was announced that Vestas has picked Indian IT services provider Wipro Ltd (BOM:507685) to assist the company in improving its workplace platform. As part of that deal, Wipro will deploy its LiVE Workspace solution for Vestas, providing its employees with smart systems such as predictive monitoring for faster service restoration, automation and preventive self-heal to minimise service disruptions, and round-the-clock end-user infrastructure.

“In this multi-year engagement we will leverage our strong understanding of the manufacturing domain, coupled with our workplace transformation capabilities to improve the end user experience for Vestas’ employees," said N S Bala, president of manufacturing and technology at Wipro.

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