Financing
Ellevio’s objective is to minimise the long term cost of capital and maximize the value of the company while ensuring access to debt financing at all times.
Debt philosophy
For its secured debt (Class A), the company targets to maintain a financial risk profile that is consistent with Investment Grade Rating (minimum BBB-/Baa3) at all times.
Debt should be diversified in terms of duration, counterparts, markets and instruments used, and structured in such a way that Ellevio’s business plan and long-term targets can be met.
Low yielding cash positions should be minimized and excess cash used for interest payment under shareholder loans and or dividend distribution. However, Ellevio shall always have access to a Liquidity Reserve consisting of cash, short term bank deposits and undrawn committed bank lines maturing beyond the next 12 months, to meet its short term capital needs.
Public bonds issued
| Notes | Amount | Maturity | Reference % | ISIN-number |
|---|---|---|---|---|
| FIX* | SEK 4,000,000,000 | 12 Feb 2025 | 2.88 | XS1768718576 |
| FLO | SEK 650,000,000 | 11 Jun 2027 | Stibor 3M | XS2178807893 |
| FLO** | SEK 350,000,000 | 11 Jun 2027 | Stibor 3M | XS2219653453 |
| FIX | SEK 1,000,000,000 | 11 Jun 2027 | 1.73 | XS2187708198 |
| FIX | SEK 3,000,000,000 | 01 Jun 2029 | 4.53 | XS2630500887 |
| FIX | SEK 1,450,000,000 | 16 Jan 2032 | 4.23 | XS2748854242 |
| FLO | SEK 1,550,000,000 | 16 Jan 2032 | Stibor 3M | XS2748854671 |
| FIX | EUR 500,000,000 | 07 Mah 2034 | 4.125 | XS2777383840 |
* Class B
** To be included in security XS2187707893
Financing structure
External debt
MSEK 40,597, Class A and B
Debt maturity profile
Interest maturity profile
Data in diagrams refer to December 31, 2023.
Information from Ellevio AB,
updated on 16 April 2024