Saab issues 5 year Floating Rate Note
Defence and security company Saab (SAAB B) today issued a 5 year Floating Rate Note (FRN) under the existing Medium Term Note programme (MTN). The FRN amounts to MSEK 400, with maturity on 19 December 2019. The programme’s total size is SEK 3 billion and in total Saab has now issued SEK 2 billion under the programme.The purpose of the transaction is to secure long-term financing of operations and give Saab increased flexibility to finance operating activities and continued acquisitions. Saab also has an unutilized Swedish commercial paper programme of SEK 5 billion. “Compared to our