Klövern issues hybrid bonds

Klövern taps the domestic money market for 500 million SEK by issuing a hybrid bond within the company’s existing framework amounting to 1.5 billion SEK. The company has previously issued a hybrid bond for 800 million SEK, meaning that it has 1.3 billion outstanding in hybrids.

The new emission was made to a rate equivalent to the bond’s nominal value and the instrument have no maturity date. The floating rate equals Stibor 3M plus 600 basis points.

Klövern’s first opportunity to buy back the bonds will be on June 21st, 2023.

Oskar von Bahr