Sandvik has 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 0.47% with a maturity date of November 25, 2028, corresponding to mid swaps 0.45 percentage points.
The bond offering was oversubscribed 4 times, and the transaction was placed with more than 110 investors.
The bonds will be listed on the official list of Luxembourg Stock Exchange. The background for the transaction is to refinance maturing loans and general corporate purposes.
Deutsche Bank, Citigroup, Crédit Agricole CIB and SEB acted as joint bookrunners for the transaction.
Courtesy of Sandvik.