SKF issues EUR 750 million notes
On 29 October 2013 Aktiebolaget SKF (publ) (“SKF”) successfully issued seven year EUR 750 million notes carrying an 2.375 per cent fixed coupon.
The net proceeds from the issue will primarily be used to refinance debt following the acquisition of Kaydon Corporation.
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2012 were SEK 64,575 million and the number of employees was 46,775.
SKF was advised by Mannheimer Swartling in connection with the issue. Olof Stenström led the firm’s team assisted by Gustav Glimblad.