Sandvik raises EUR 500 million in the corporate bond market
Sandvik has today raised EUR 500 million in the corporate bond market under its Euro Medium Term Note (EMTN) program. The re-offer yield for the bond was 2.26% with a maturity date on June 7, 2027, corresponding to mid swaps +0.73 percentage points.
The bond offering was oversubscribed 3 times, and the transaction was placed with more than 60 investors.
The bonds will be listed on the official list of Luxembourg Stock Exchange. The purpose of the issue is to refinance maturing loans and general corporate purposes.
J.P. Morgan, Société Générale, Nordea and MUFG acted as joint bookrunners for the transaction.
Stockholm, May 31, 2022
Sandvik AB
For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.
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Sandvik Group
Sandvik is a global high-tech engineering group offering solutions that enhance productivity, profitability and sustainability for the manufacturing, mining and infrastructure industries. We are at the forefront of digitalization and focus on optimizing our customers’ processes. Our world-leading offering includes equipment, tools, services and digital solutions for machining, mining, rock excavation, rock processing and advanced materials. In 2021 the Group had approximately 44,000 employees and revenues of about 99 billion SEK in about 150 countries.
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