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Credit market

Gränges' treasury function ensures that the Group’s financing is secured by managing the loans, lines of credit and liquidity and that the financial exposure is in line with the Group’s financial policy.

Gränges' financing mainly consists of term loans, credit facility loans, commercial papers and bonds issued under the Group’s MTN program. As at 31 December 2020, the interest-bearing debt amounted to SEK 4,235 (3,853) million, whereof SEK 2,184 is due in 2021.

The main loan facilities are a multi-currency revolving credit facility of SEK 2,000 million which is due 29 March 2023 with an option to prolong for one year, a revolving credit facility of USD 50 million due 29 March 2022 and an USD 100 million Term Loan due 29 March 2024.

Gränges has a commercial paper program available in Swedish Krona with a framework amount of SEK 1,500 million. A total of SEK 840 million of Commercial papers was issued as per 31 December 2020.

MTN Program

Gränges has an MTN Program (Medium Term Notes) with a framework amount of SEK 3 billion. The prospectus has been approved by Finansinspektionen, the Swedish financial supervisory authority, and is also available at www.finansinspektionen.se.

Documents

Prospectus:   

Grundprospekt 2021-09-20 (Swedish)

Final terms:  

Loan no. Date Tenor Amount
103 29 September 2021 5 years 600 MSEK

 

Prospectus:   

Grundprospekt 2018-08-30 (Swedish)

Final terms:  

Loan no. Date Tenor Amount
102 20 September 2018 5 years 300 MSEK


 
Green and Sustainability-Linked Finance Framework

To support Gränges’ sustainability ambitions and targets, the company has published a combined Green and Sustainability-Linked Finance Framework to allow for the issuance of Green Bonds and Sustainability-Linked Bonds.

The framework allows Gränges to issue both Green and Sustainability-Linked Debt, as well as a combination of the two. By creating a combined framework the company enables investments in green projects and assets, as well as investments to increase its sustainability performance for the overall business.

Sustainalytics has provided a second party opinion confirming the alignment with International Capital Market Association (“ICMA”) Green Bond Principles (“GBP”) 2021, the Sustainability-Linked Bond Principles (“SLBP”) 2020 as well as the Loan Market Association (“LMA”), the Asia Pacific Loan Market Association (“APLMA”) and the Loan Syndications and Trading Association (LSTA) Green Loan Principles (“GLP”) 2021 and Sustainability-Linked Loan Principles (“SLLP”) 2021.

Gränges Green Financing Framework

Sustainalytics has provided an second opinion to the framework.

Gränges Green and Sustainability-Linked Finance Framework Second-Party Opinion

 

For further information, please contact:

Gustav Mårtensson, VP Group Treasury
Phone: +46 70 644 80 15