By Devika Patel
Knoxville, Tenn., Nov. 8 – SKF AB priced €300 million of 10-year 0.875% green bonds, according to a press release.
The bonds priced at 99.848 to yield 0.891%, or mid-swaps plus 80 basis points.
The deal was oversubscribed four times.
Proceeds will be used to finance green investments that reduce CO2 emissions and impact from SKF's own operations and supply chain operations and to help customers reduce their emissions. The company said this will be done through capital investment in manufacturing, plant and property and research and development related to clean tech industries.
Based in Gothenburg, Sweden, SKF makes ball and roller bearings and sealing systems.
| Issuer: | SKF AB
|
| Issue: | Green bonds
|
| Amount: | €300 million
|
| Maturity: | 10 years
|
| Coupon: | 0.875%
|
| Price: | 99.848
|
| Yield: | 0.891%
|
| Spread: | Mid-swaps plus 80 bps
|
| Announcement date: | Nov. 8
|
| Settlement date: | Nov. 15
|
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