Sandvik 150 Corporate Bond oversubscribed within three days
As a step in the anniversary celebrations, Sandvik did offer the opportunity to invest in a Corporate Bond arranged by Handelsbanken. The bond was aimed at the general public and thus offers the opportunity of a direct investment in Sandvik, at the same time as it accentuates the company’s efforts to achieve a broad investor base for borrowing. Over 1,800 investors bought the Bond at a total value of 1 100 MSEK.
- We expected to issue 300 MSEK but the great interest shown forced us to close the offer after only 3 days. There seems to be a great interest to invest in stable companies with strong financials. With the assistance of Handelsbanken, we have achieved financing at market conditions and also been able to offer the investors good terms, says Anders Örbom, Group Treasurer, Sandvik AB.
The bond was offered in two alternatives, with a fixed yearly rate of 4.17% or a floating rate, both with five and a half years maturity.
Sandviken, 21 February 2012
Sandvik Aktiebolag (publ)
The information was submitted for publication at 16.00 CET on 21 February 2012.
The Sandvik Group
Sandvik is a global industrial group with advanced products and world-leading positions in selected areas – tools for metal cutting, equipment and tools for the mining and construction industries, stainless materials, special alloys, metallic and ceramic resistance materials as well as process systems. In 2011, the Group had about
50,000 employees and representation in 130 countries, with annual sales of nearly 94,000 MSEK.
For more information visit www.sandvik.com