SKF Issues SEK 3 Billion Bond
GOTHENBURG, Sweden, June 3, 2020 /PRNewswire/ -- Today, SKF has issued a bond of SEK 3 billion with a four-year maturity, which expires on 10 June 2024. The bond was issued in two tranches with SEK 2,100 million at a floating interest rate based on 3 month Stibor with a premium of 1% and SEK 900 million were issued with a fixed interest rate of 1,135%. The proceeds from the issue will be used for general corporate purposes, including refinancing of existing debt.
Niclas Rosenlew, Senior Vice President and CFO, says: "We are very pleased that we have issued this bond and the interest it has attracted from investors. SKF has a strong balance sheet and our financial liquidity is also strong. We have a well-balanced maturity profile with limited maturities in the next two years."
SKF intends to admit the new bond to trading on the Nasdaq Stockholm Stock Exchange's regulated market.
SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group's service offer includes technical support, maintenance services, engineering consultancy and training.
For further information, please contact:
PRESS: Carl Bjernstam, Corporate Communication
tel: 46-31-337-2517, mobile: 46-722-201-893, e-mail: [email protected]
INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
Patrik Stenberg, 46-31-337-2104; 46-705-472-104; [email protected]
This information was brought to you by Cision http://news.cision.com
The following files are available for download: