Funding
| Maturity | Currency | Facility amount | |
|---|---|---|---|
| Capital markets funding | |||
| Bonds under MTN Programme | 2028 | SEK | 500m |
| 2026 | SEK | 1 500m | |
| Credit facilities | |||
| Syndicated bank facility | 2026 | SEK | 2 500m |
| Syndicated bank facility | 2028 | SE | 1 600m |
| Overdraft facility | SEK | 130m |
Capital markets funding
MTN Programme
Kinnevik has established a medium term note programme. This programme enables Kinnevik to issue notes with a minimum tenor of one year within a SEK 6bn framework amount. The programme was extended in February 2019, and in connection therewith Danske Bank joined as dealer under the programme. The terms and conditions for the notes issued under the programme entail standard clauses about change of control and negative pledge.
SEB is arranging the programme and also acts as issuing agent together with Svenska Handelsbanken, Swedbank, Nordea Bank, DNB Bank ASA, filial Sverige, and Danske Bank.
In November 2021, Kinnevik updated the prospectus for its MTN Programme to enable issuance of sustainability-linked medium term notes in accordance with Kinnevik's Sustainability-Linked Framework.
In November 2021, Kinnevik issued dual tranche SEK 2.0bn sustainability-linked bonds under the MTN Programme comprising a SEK 1.5bn tranche with a final maturity of five years, bearing a floating rate coupon of three months STIBOR + 0.70%. and a SEK 0.5bn tranche with a final maturity of seven years, bearing a floating rate coupon of three months STIBOR + 0.90%. The final redemption price of the sustainability-linked bonds depends on Kinnevik’s ability to meet the annual sustainability performance targets (“SPTs”) the company has set for its sustainability work. If Kinnevik does not achieve an SPT in any given year the redemption price will increase by 0.075 percent per SPT and year. The first measuring date for the SPTs will be 31 December 2022. More information about the SPTs can be found in Kinnevik’s Sustainability-Linked Financing Framework further down on this page.
Press release (November 2021, Sustainability-Linked Bond Issue)
Final terms, loan 107 (November 2021, FRN 5-year Sustainability-Linked Bond Issue, in Swedish)
Final terms, loan 108 (November 2021, FRN 7-year Sustainability-Linked Bond Issue, in Swedish)
Prospectus (MTN Programme 2018, in Swedish)
Prospectus (MTN Programme 2019, in Swedish)
Prospectus (MTN Programme 2020, in Swedish)
Prospectus (MTN Programme 2021, in Swedish)
Prospectus (Sustainability-Linked MTN Programme 2021, in Swedish)
Prospectus (Sustainability-Linked MTN Programme 2022, in Swedish)
Prospectus (Sustainability-Linked MTN Programme 2023, in Swedish)
Prospectus (Sustainability-Linked MTN Programme 2024-25, in Swedish)
Kinnevik AB Certificate of Registration
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 5bn program. The commercial paper program is a complement to Kinnevik's core funding.
Dealers under the program are Danske Bank, DNB, Handelsbanken, Nordea, SEB and Swedbank
Credit facilities
Syndicated bank facilities
Kinnevik has two sustainability-linked multi-currency revolving credit facilities. One SEK 2,500m facility provided by a group of six banks – Danske Bank, DNB, Nordea, SEB, Svenska Handelsbanken and Swedbank – maturing in May 2026 and one SEK 1,600m facility provided by a group of five banks - Danske Bank, DNB, Nordea, SEB, and Svenska Handelsbanken – maturing in November 2028.
Overdraft facilities
Kinnevik has overdraft facilities with Handelsbanken (SEK 100m) and Nordea (SEK 30m). These facilities are extended on a yearly basis.
Credit rating
Kinnevik has no official credit rating and has no history of credit rating.
Sustainability-Linked Financing Framework
In November 2021, Kinnevik published a Sustainability-Linked Financing Framework under which it can issue sustainability-linked securities, including bonds and loans. The Sustainability-Linked Financing Framework reinforces Kinnevik’s commitment to its sustainability targets, including reducing GHG emission intensity in its portfolio, and backing a more diverse group of founders and company leaders through its capital allocation targets.
Kinnevik’s Sustainability-Linked Financing Framework