SKF issues EUR 300 million bond; updates guidance for financial net
SKF’s new EUR 300 million bond closed today. The senior, unsecured bond matures on 17 September 2025 and carries a fixed coupon interest rate of 1.25%, an historically low rate for SKF.
The proceeds of the issue will be used for the refinancing of existing debt through the buy-back of parts of two outstanding bonds, maturing in 2019 and 2020, with coupon rates of 1.875% and 2.375%, respectively.
Financial net for Q3 2018 is now expected to be approximately SEK -250 million, compared to the Group’s previous guidance of SEK -200 million.
The new bond has been listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Luxembourg Stock Exchange's regulated market.
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