GOTHENBURG, Sweden, June 2, 2020
GOTHENBURG, Sweden, June 2, 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.
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