Gränges plans to issue bonds and has established an MTN program (Medium Term Note) with a framework amount of SEK 3 billion as a part of the Group’s long-term financing.
“By establishing an MTN program Gränges enters the Swedish bond market. The main purpose of the forthcoming issue is to refinance parts of the existing debt, to diversify the debt structure and to support Gränges long-term strategy”, says Gränges CFO Oskar Hellström.
The MTN program is expected to have a neutral effect on Gränges financial costs in the current year.
Gränges has established a base prospectus which today has been approved by Finansinspektionen, the Swedish financial supervisory authority. The base prospectus is available on Gränges’ website, www.granges.com and on Finansinspektionen’s website, www.finansinspektionen.com.
Danske Bank has been appointed as arranger of the program and will act as dealer together with Handelsbanken.
For further information, please contact:
Oskar Hellström, CFO
email@example.com, tel +46 709 54 01 75
Pernilla Grennfelt, SVP Communications and Investor Relations
firstname.lastname@example.org, tel: +46 702 90 99 55
Gränges is a leading global supplier of rolled aluminium products for heat exchanger applications and other niche markets. In materials for brazed heat exchangers Gränges is the global leader with a market share of approximately 20 per cent. The company develops, produces and markets advanced materials that enhance efficiency in the customer manufacturing process and the performance of the final products; brazed heat exchangers. The company’s geographical markets are Europe, Asia and the Americas. Its production facilities are located in Sweden, China and the United States, and have a combined annual capacity of 420,000 metric tonnes. Gränges has some 1,600 employees and net sales of more than SEK 11 billion. The share is listed on Nasdaq Stockholm. More information on Gränges is available at granges.com.