Sandvik raises EUR 500 million in the corporate bond market
Sandvik, based in Sweden, has successfully raised EUR 500 million in the corporate bond market under its Euro Medium Term Note (EMTN) program.
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Rhea-AI Summary
Sandvik, based in Sweden, has successfully raised EUR 500 million in the corporate bond market under its Euro Medium Term Note (EMTN) program. The bonds, with a maturity date of June 7, 2027, have a re-offer yield of 2.26% and were oversubscribed by three times, attracting over 60 investors. The funds will be utilized for refinancing maturing loans and general corporate purposes. The bonds will be listed on the official list of the Luxembourg Stock Exchange.
Positive
- Raised EUR 500 million in corporate bond market.
- Transaction oversubscribed 3 times, indicating strong demand.
- Funds will refinance maturing loans, improving financial stability.
Negative
- None.
Details
News Market Reaction – SDVKY
The recorded move for SDVKY in the trading session of this news was +0.34%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
SANDVIKEN, Sweden, May 31, 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
The bond offering was oversubscribed 3 times, and the transaction was placed with more than 60 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.
J.P. Morgan, Société Générale, Nordea and MUFG acted as joint bookrunners for the transaction.
Stockholm, May 31, 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 |
View original content:https://www.prnewswire.com/news-releases/sandvik-raises-eur-500-million-in-the-corporate-bond-market-301558091.html
SOURCE Sandvik
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