|Capital markets funding|
|Commercial paper program||-||SEK||2 000m|
|Syndicated bank facility||2018||SEK||3 000m|
|Syndicated bank facility||2021||SEK||3 000m|
Capital markets funding
Kinnevik issued in December 2012 senior unsecured bonds with a tenor of 5 years. The total nominal amount is SEK 1,200m of which SEK 200m has a coupon of 3,25% and SEK 1,000m pays 3 months STIBOR + 1,7%.
The terms and conditions entail standard clauses about change of control and negative pledge.
Commercial paper program
Kinnevik has established a Swedish commercial paper program. The program enables Kinnevik to issue commercial papers with a tenor of maximum 12 months within a SEK 2bn program. The commercial paper program is a complement to Kinnevik's core funding.
Dealers under the program are DNB, Handelsbanken, Nordea, SEB and Swedbank.
Syndicated bank facilities
Kinnevik has 2 revolving credit facilities amounting to SEK 3,000m each:
(i) Provided by a group of 6 banks – Crédit Agricole, DNB, Nordea, SEB, Svenska Handelsbanken and Swedbank. This facility matures in December 2018. The credit facility is secured by listed shares, but has no financial covenants. A part of the facility is used as back-up against the refinancing risk related to any issued commercial papers.
(ii) Provided by a group of 5 banks – DNB, Nordea, SEB, Svenska Handelsbanken and Swedbank. This facility matures in July 2021 but has two extension options that, if exercised in full, would extend the maturity date until July 2023. The credit facility is secured by listed shares, but has no financial covenants. A part of the facility is used as back-up against the refinancing risk related to any issued commercial papers.
Kinnevik has overdraft facilities with Handelsbanken (SEK 100m) and Nordea (SEK 30m). These facilities are extended on a yearly basis.