SSAB has had a 25% shareholding in Heléns Rör AB in Sweden since 1991, with BENTELER International AG being the majority shareholder with 75% of the shares. SSAB has now divested its 25% shareholding to Benteler.
SSAB AB has successfully issued senior unsecured bonds in the total amount of SEK 2000m under its EUR 2bn EMTN programme, dated 12 June 2019. The new bonds are due in June 2024 and the fixed tranche carries a coupon of 2,75% and the floating tranche a coupon of 3mS+270bps. The transaction generated strong interest from investors and the issue was oversubscribed. The proceeds will be used for general corporate purposes.
Last October, SSAB Europe announced it was to modernize the production lines at the Hämeenlinna Tube Mill in Finland as part of the restructuring of its tube production operations. The around SEK 300 million investment in the Hämeenlinna Tube Mill has progressed to the stage where the warehouse extension is at rooftop height and the topping out ceremony will be held on June 14, 2019.