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Sandvik raises EUR 500 million in the corporate bond market

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STOCKHOLM, Sept. 20, 2022 /PRNewswire/ -- Sandvik has today raised EUR 500 million in the corporate bond market under its Euro Medium Term Note (EMTN) program. The re-offer yield for the bond was 3.90% with a maturity date on September 27, 2029, corresponding to mid swaps +1.23 percentage points. 

The bond offering was oversubscribed 2.9 times, and the transaction was placed with more than 80 investors. 

The bonds will be listed on the official list of Luxembourg Stock Exchange. The purpose of the issue is to refinance maturing loans and general corporate purposes.

Nordea, Danske Bank, Citibank and Deutsche Bank acted as joint bookrunners for the transaction.

Stockholm, September 20, 2022

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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Sandvik raises EUR 500 million in the corporate bond market

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SOURCE Sandvik

Sandvik AB

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Iron and Steel Forging
Manufacturing
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Industrial Machinery, Producer Manufacturing, Manufacturing, Iron and Steel Forging
Sweden
Stockholm