SSAB AB has successfully issued two five-year senior unsecured sustainability-linked bonds of the combined amount SEK 2,100 million under its EUR 2bn EMTN programme, dated 12 May 2023. The new bonds are due in June 2028 and carry a coupon of 3m Stibor +170 bps for the floating rate notes (SEK 600mn) respectively 4.875% for the fixed rate notes (SEK 1.500mn). The transactions generated strong interest from investors and the issue was well oversubscribed. The proceeds will be used for general corporate purposes.
SSAB is leading the green transition of the steel industry, with the ambition to largely eliminate carbon dioxide emissions from our own operations in around 2030. The launch of a new Sustainability-linked bond under the SSAB Sustainability-Linked Finance framework supports SSAB’s strategy and is aligned with our sustainability goals.
“I am very pleased with the interest in and confidence shown by our investors in conjunction with the issue. We feel strong support for our plans for transformation to fossil-free steelmaking”, says Leena Craelius, CFO at SSAB.
In conjunction with the transaction, SSAB bought back SEK 878mn of the outstanding SEK bonds due on June 26, 2024.
DNB Markets and Nordea acted as financial advisors for the bond issue.