Sandvik raises EUR 500 million in the corporate bond market

BY PR Newswire | CORPORATE | 09/20/22 11:57 AM EDT

STOCKHOLM, Sept. 20, 2022 /PRNewswire/ --?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 3.90% with a maturity date on September 27, 2029, corresponding to mid swaps +1.23 percentage points.?

The bond offering was oversubscribed 2.9 times, and the transaction was placed with more than 80 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.

Nordea, Danske Bank, Citibank and Deutsche Bank acted as joint bookrunners for the transaction.

Stockholm, September 20, 2022

Sandvik AB (SDVKF)

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellstr?m, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.