SSAB issues Sustainability-Linked bonds amounting to SEK 2,100 million
SSAB AB has successfully issued two five-year senior unsecured sustainability-linked bonds of the combined amount SEK 2,100 million under its EUR 2bn EMTN programme, dated 12 May 2023. The new bonds are due in June 2028 and carry a coupon of 3m Stibor +170 bps for the floating rate notes (SEK 600mn) respectively 4.875% for the fixed rate notes (SEK 1.500mn). The transactions generated strong interest from investors and the issue was well oversubscribed. The proceeds will be used for general corporate purposes.
SSAB is leading the green transition of the steel industry, with the ambition to largely eliminate carbon dioxide emissions from our own operations in around 2030. The launch of a new Sustainability-linked bond under the SSAB Sustainability-Linked Finance framework supports SSAB’s strategy and is aligned with our sustainability goals.
“I am very pleased with the interest in and confidence shown by our investors in conjunction with the issue. We feel strong support for our plans for transformation to fossil-free steelmaking”, says Leena Craelius, CFO at SSAB.
In conjunction with the transaction, SSAB bought back SEK 878mn of the outstanding SEK bonds due on June 26, 2024.
DNB Markets and Nordea acted as financial advisors for the bond issue.
For further information, please contact:
Kati Vellinki, Vice President and Head of Treasury, phone: +358 50 415 4016, kati.vellinki@ssab.com
Peter Nordquist, Head of Funding and Markets Operations, phone: +46 72 561 5573, peter.nordquist@ssab.com
SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world. SSAB has employees in over 50 countries. SSAB has production facilities in Sweden, Finland and the US. SSAB is listed on Nasdaq Stockholm and has a secondary listing on Nasdaq Helsinki. www.ssab.com.
Join us also on social media: Facebook, Instagram, LinkedIn, Twitter and YouTube
Tags:
