Successful EMTN programme establishment and 10-year Eurobond issue for Mölnlycke
Gothenburg, 29 August 2019
Mölnlycke, a world-leading medical solutions company, successfully launched on 28 August a EUR 500 million senior unsecured bond off its newly established EMTN programme. The bond has a 10-year tenor, Mölnlycke’s longest tenor yet, and an annual fixed coupon of 0,875%.
There was strong and widespread investor demand for the bond issue, which was more than 6 times oversubscribed.
The proceeds will be used for a simultaneous buy-back of part of Mölnlycke notes maturing in 2022 and for general corporate purposes. The transaction has enabled Mölnlycke to extend its debt maturity profile and lock in favourable financing conditions to support the Group’s continued growth. The company will stay within its financial leverage policy after the bond issue.
Demand came from leading investors in all regions: Germany/Austria 34%, the Nordics 18%, UK/Ireland 16%, France 25%, Switzerland 5%, BeNeLux 3% and Other 4%. Asset managers were the leading investor type with 73%, followed by insurance/pension funds with 17%, while banks contributed with 9%, official institutions and other with 1%.
For more information please contact:
Stefan Fristedt, CFO, +46 31 352 3746.
Mölnlycke Health Care is a world-leading medical products and solutions company that equips healthcare professionals to achieve the best patient, clinical and economic outcomes. We design and supply products and solutions for use in wound treatment, pressure ulcer and infection prevention and surgery. Our products and solutions provide value for money supported by clinical and health economic evidence.
Mölnlycke employs around 7,800 people and is owned by Investor AB. The company headquarters are in Gothenburg, Sweden and we operate in more than 100 countries worldwide. Since 2007, the company belongs to Investor AB, the leading owner of Nordic-based international companies, founded by the Wallenberg family a hundred years ago. For more information, please visit www.molnlycke.com.