SSAB yesterday issued 5-year bonds on the Swedish capital market with a total value of SEK 1,000 million. The issuance was carried out in two tranches: a fixed interest bond totalling SEK 525 million with an annual coupon of 4.875%, and a bond totalling SEK 475 million carrying a floating rate interest of 3-month STIBOR +340 bp. Both loans have been issued under the Company’s Swedish MTN program and the documentation contains no financial covenants.

Both of the loans will be listed on Nasdaq OMX in Stockholm. The borrowing represents an element in the Company’s general financing activity and extends the average term to maturity in the Company’s loan portfolio.

Danske Bank and Svenska Handelsbanken acted as bookrunners for the transaction.