SKF issues SEK 3 billion notes
On 10 June 2020 Aktiebolaget SKF (publ) (“SKF”) successfully issued SEK 3 billion senior unsecured notes with a four-year maturity, which expire on 10 June 2024. The notes were 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 net proceeds of the issue will be used for general corporate purposes, including refinancing of existing debt.
The notes are admitted to trading on Nasdaq Stockholm.
SKF’s mission is to be the undisputed leader in the bearing business. SKF offers solutions around the rotating shaft, including bearings, seals, lubrication, condition monitoring and maintenance services. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2019 were SEK 86 013 million and the number of employees was 43,360.
SKF was advised by Mannheimer Swartling in connection with the issue.
