AAK AB has issued, at attractive levels, a senior unsecured bond for a total of SEK 500 million with a tenor of five years. The bond carries a floating interest rate of three months STIBOR plus 97 basis points.
The proceeds from the bond issue will be used to finance AAK’s recent acquisition in Europe, the increased ownership in AAK Kamani in India, capacity investments, and to diversify the company’s debt structure.
AAK AB established an MTN program (Medium Term Note) in November 2018 with a framework amount of SEK 4,000 million. In addition to the above-mentioned bond, the company issued a senior unsecured bond for a total of SEK 1,100 million with a tenor of three years in December 2018, and a senior unsecured bond for a total of SEK 500 million with a tenor of five years in March 2019.
For further information, please contact:
Fredrik Nilsson
CFO
Mobile: +46 708 95 22 21
E-mail: fredrik.nilsson@aak.com
This information is information that AAK AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 4:30 p.m. CET on November 8, 2019.
AAK is a leading provider of value-adding vegetable oils & fats. Our expertise in lipid technology within foods and special nutrition applications, our wide range of raw materials and our broad process capabilities enable us to develop innovative and value-adding solutions across many industries – Chocolate & Confectionery, Bakery, Dairy, Special Nutrition, Foodservice, Personal Care, and more. AAK’s proven expertise is based on more than 140 years of experience within oils & fats. Our unique co-development approach brings our customers’ skills and know-how together with our own capabilities and mindset for lasting results. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has more than 20 different production facilities, sales offices in more than 25 countries and more than 3,800 employees. We are AAK – The Co-Development Company.