Ericsson successfully launches Euro corporate bonds
February 24 2017 - 2:30AM
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Ericsson issuing two bonds of EUR 500m each,
maturing in 2021 and 2024
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Strong and widespread investor demand
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The bonds extend Ericsson's well diversified
debt maturity profile
Following a well-attended road show, Ericsson
(NASDAQ:ERIC) has successfully placed one Euro denominated 500
million 4-year bond with a fixed coupon rate of 0.875% and one Euro
denominated 500 million 7-year bond with a fixed coupon rate of
1.875%. The bonds were issued under Ericsson's Euro Medium Term
Note Program (EMTN).
With this transaction, Ericsson extends its entry
to the Eurobond market, one of the world's largest corporate bond
markets, and takes advantage of strong current corporate credit
market conditions.
The bonds will extend Ericsson's well diversified
maturity profile and the proceeds will be used to refinance debt
maturing in 2017 and for general corporate purposes.
Carl Mellander, acting CFO says: "This reconfirms
market confidence in Ericsson and supports our strong balance sheet
and financial flexibility."
Joint bookrunners were Citi, Credit Agricole CIB
and SEB and co-managers were Nordea, Standard Chartered and
Swedbank.
NOTES TO
EDITORS
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Ericsson is a world leader in
communications technology and services with headquarters in
Stockholm, Sweden. Our organization consists of more than 111,000
experts who provide customers in 180 countries with innovative
solutions and services. Together we are building a more connected
future where anyone and any industry is empowered to reach their
full potential. Net sales in 2016 were SEK 222.6 billion (USD 24.5
billion). The Ericsson stock is listed on Nasdaq Stockholm and on
NASDAQ in New York. Read more
on www.ericsson.com.
This announcement is for
information purposes only and does not constitute a prospectus or
offering circular or an offer to acquire any securities and is not
intended to provide the basis for any credit or any other third
party evaluation of the securities (the "Securities") or the
transaction (the "Transaction") and should not be considered as a
recommendation that any investor should subscribe for or purchase
any of the Securities. Neither this announcement nor any other
documentation or information (or any part thereof) delivered or
supplied under or in relation to the Transaction or the Securities
shall be deemed to constitute an offer of or an invitation to
purchase or subscribe the Securities. This announcement does not
constitute an offer to sell, exchange or transfer any securities
and is not soliciting an offer to purchase, exchange or transfer
any securities in any jurisdiction where such offer, sale, exchange
or transfer is not permitted or is unlawful. Any investor who
acquires the Securities must rely solely on the final offering
circular published by the Company in connection with the
Transaction, on the basis of which alone purchases of or
subscription for the Securities may be made.
This announcement is only being
distributed to and is only directed at persons (i) who are outside
the United Kingdom or (ii) to investment professionals falling
within Article 19 of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order") or (iii) high net
worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 19 of the Order (all such
persons together being referred to as "relevant persons"). This
announcement must not be acted on or relied on by persons who are
not relevant persons. Any investment or investment activity to
which this communication relates is available only to relevant
persons and will be engaged in only with relevant persons.
This announcement does not
constitute or form part of an offer to sell or the solicitation of
an offer to subscribe for or otherwise acquire any securities in
the United States or in any other jurisdiction. This announcement
is not for distribution, directly or indirectly in or into the
United States (as defined in Regulation S under the US Securities
Act of 1933, as amended (the "Securities Act")). The Securities
have not been and will not be registered under the Securities Act
and may not be offered or sold within the United States or to, or
for the account or benefit of, U.S. persons except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act.
Ericsson successfully launches Euro
corporate bonds
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of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
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information contained therein.
Source: Ericsson via Globenewswire
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