Kinnevik has issued SEK 1.5 billion in new bonds
Kinnevik AB (publ) ("Kinnevik") today announced that it has issued SEK 1.5bn in new bonds in the Nordic bond market.
The SEK 1.5bn bonds have a final maturity of five years and are separated in one SEK 250m tranche with a fixed rate coupon of 1.058 percent, and one SEK 1,250m tranche with a floating rate coupon of the three-month STIBOR plus 0.80 percent. In order to hedge the interest rate risk, Kinnevik has entered into an interest rate swap agreement whereby it will pay a fixed annual interest rate also on the SEK 1,250m.
The bonds are issued under Kinnevik's Medium Term Note Programme established in February 2020 and the proceeds from the bond issue will primarily be used to partially refinance bonds maturing during 2020.
For further information, visit www.kinnevik.com or contact:
Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.