Ericsson refinances part of its debt with a bilateral loan
Ericsson (NASDAQ:ERIC) has signed a long-term bilateral loan of USD 625 million with SEK (The Swedish Export Credit Corporation), partially backed by EKN (The Swedish Export Credit Guarantee Board) working capital guarantee.
Ericsson has signed a USD denominated 625 million seven-year loan with SEK. Ericsson intends to use the proceeds of the offering for refinancing of bonds maturing within the current and next year and for general corporate purposes. The loan will lengthen Ericsson's average debt maturity profile and provide a more efficient capital structure.
Notes to editors:
More information on Ericsson's debt structure is found on http://www.ericsson.com/ericsson/investors/bondholder/index.shtml
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Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 250 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27 billion (SEK 209 billion) in 2008. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on OMX Nordic Exchange Stockholm and NASDAQ.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27 billion (SEK 209 billion) in 2008. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on OMX Nordic Exchange Stockholm and NASDAQ.
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Ericsson discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on June 12, 2009, at 08.25am CET.