Ericsson launches debut S$ bond issue
Ericsson launches debut S$ bond issue Ericsson today became the first European corporate to launch a Singapore dollar bond issue. Ericsson's S$100 million 3-year fixed rate bond issue has a coupon of 4,20 percent and an issue price of 99,91 percent. J.P. Morgan Securities Asia Pte. Limited acted as sole lead manager on the issue. "We are keen to establish our name in the S$ debt market following the government's liberalization policies. Ericsson has a global treasury network with regional treasury centers in Stockholm, Singapore and Dallas. We look at this bond issue as a step towards further globalization of our financial activities," says Jan Hjalber, President, Ericsson Treasury Services Asia. The issue was met with strong demand from a variety of local investors, including insurance companies, fund managers, and corporations. "The issue provided a good source of diversification for a market traditionally dominated by statutory board, financial institutions and supranational issuers, and highlights the increasing sophistication of the investor base in Singapore," says Jeanette Wong, head of J.P. Morgan in Singapore. Ericsson is the leading provider in the new telecoms world, with communications solutions that combine telecom and datacom technologies with freedom of mobility for the user. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for its customers - network operators, service providers, enterprises and consumers - the world over. Please visit Ericsson's Press Room at: http://www.ericsson.se/pressroom FOR FURTHER INFORMATION, PLEASE CONTACT Helena Norrman, Press Manager, Corporate Communications Phone: +46 8 719 3829, +46 70 344 4088 E-mail: helena.norrman@lme.ericsson.se Fredrik Wikner, Head of Interest Rate Trading, Ericsson Phone: +46 8 719 5177; E-mail: fredrik.wikner@tss.ericsson.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/29/19991029BIT00700/bit0001.doc http://www.bit.se/bitonline/1999/10/29/19991029BIT00700/bit0002.pdf