Dometic Issues SEK 2.5 Billion in Swedish Bond Market – RVBusiness – Breaking RV Industry News
STOCKHOLM – Dometic Group AB on Wednesday (Feb. 5) issued SEK 2.5 billion in the Swedish krona bond market, according to a release. SEK 2.5 billion is the equivalent of just over $229 million in U.S. dollars.
The bonds were issued across three tranches consisting of a 3-year Floating Rate Note with a coupon of 3m Stibor +275bps, a 3-year Fixed Rate Note with a coupon of 4.925% and a 5-year Floating Rate note with a coupon of 3m Stibor +325bps, the release continued.
The bonds have been issued under Dometic’s EUR 1.5bn Euro Medium Term Note (“EMTN”) program dated 14 June 2024 and is Dometic’s first ever public transaction in the Swedish Krona bond market. The bonds will be listed on the Official List of Euronext Dublin.
“We are pleased with the success of our first ever public Swedish krona bond and the substantial investor interest in our home market. We have further broadened our sources of funding with the entry into this market. The funds will mainly be used to manage our current debt portfolio”, says Dometic’s Chief Financial Officer Stefan Fristedt.
The announcement comes less than a week after the company released its fourth quarter 2024 financial results (see “Dometic Q4 Report Shows ‘Restrained Consumer Spending’”) showing improved operating cash flow and EBITA which, the company states, were in line with expectations.
