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    SAND   SE0000667891

SANDVIK AB

(SAND)
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Delayed Nasdaq Stockholm  -  11:29 2022-08-12 am EDT
183.45 SEK   +0.25%
08/08Sweden's Sandvik Buys Switzerland's Sphinx Tools
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Sandvik signs SEK 11 billion sustainability-linked revolving credit facility

06/15/2022 | 09:01am EDT

Sandvik has signed a SEK 11 billion revolving credit facility linked to its sustainability targets, with a group of 14 banks. The facility has a five-year tenor with two one-year extension options, and will be used for general corporate purposes and to refinance the existing SEK 9 billion credit facility.

The new credit facility has a clear link to Sandvik's sustainability targets for 2030 with regards to the ambitions to reduce carbon emissions by 50% and increase waste circularity to 90%. The annual KPIs are aligned with those goals and the interest margin on the facility is affected positively or negatively depending on whether the KPI levels are met.

"Sustainability is a fundamental part of our strategy and the way we do business, and this new credit facility is an important step as we work to further integrate sustainability across our operations. It is also a testament of our commitment to our ambitious sustainability targets," says Mats W Lundberg, Head of Sustainability at Sandvik.

SEB, Citibank and Handelsbanken acted as coordinating Mandated Lead Arrangers and Bookrunners. Citibank was the Documentation Agent for the facility, SEB the Sustainability Coordinator and Handelsbanken the Facility Agent.

Stockholm, June 15, 2022
 

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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Sandvik-koncernen

Sandvik är en global högteknologisk industrikoncern med lösningar som förbättrar produktivitet, lönsamhet och hållbarhet i tillverkningsindustrin, gruvindustrin och infrastrukturindustrin. Vi ligger i framkant av digitaliseringen och fokuserar på att optimera våra kunders processer. Vårt världsledande erbjudande inkluderar utrustning, verktyg, tjänster och digitala lösningar för metallbearbetning, gruvbrytning, bergavverkning, krossning och sortering, samt avancerade material. Koncernen hade 2021 omkring 44 000 medarbetare och en försäljning på cirka 99 miljarder SEK i runt 150 länder.

https://news.cision.com/sandvik/r/sandvik-signs-sek-11-billion-sustainability-linked-revolving-credit-facility,c3586124

https://mb.cision.com/Main/208/3586124/1593258.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2022 107 B 10 486 M 10 486 M
Net income 2022 14 697 M 1 440 M 1 440 M
Net Debt 2022 29 740 M 2 914 M 2 914 M
P/E ratio 2022 15,6x
Yield 2022 3,00%
Capitalization 230 B 22 545 M 22 545 M
EV / Sales 2022 2,43x
EV / Sales 2023 2,19x
Nbr of Employees 38 994
Free-Float 97,2%
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Number of Analysts 23
Last Close Price 183,45 SEK
Average target price 223,36 SEK
Spread / Average Target 21,8%
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Managers and Directors
Stefan Widing President, Chief Executive Officer & Director
Cecilia Felton Chief Financial Officer & Executive Vice President
Johan Molin Chairman
Jennifer Margaret Allerton Independent Director
Claes G÷sta Boustedt Independent Director
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