Newswire

Gothenburg, Sweden, September 8, 2022 /PRNewswire — SKF has issued its second Green Bond, which will increase 400 million euros finance eligible green projects in accordance with the Group’s green financing framework. The Bond further connects SKF’s business strategy and financing approach with the Group’s sustainability commitment and climate goals.

Proceeds from the green bond will fund continued investments in SKF’s smart and clean strategy, where potential projects have already been identified that add a significant amount of the bond’s value. These potential projects include capital investments and product development for clean technologies, as well as reducing energy consumption and waste both for our customers and for SKF’s own operations, as part of the group’s ambitions to achieve zero net greenhouse gas emissions in own operations (scope 1 and 2). in 2030 and in the supply chain (scope 3 up) in 2050.

The SKF Green Bond received significant demand from investors and was oversubscribed more than six times. SKF has been promoting sustainability initiatives for more than 20 years, of which the Green Bond is another example. In 2019, SKF was one of the first capital goods companies to issue a green bond.

Niclas Rosenlew, Senior Vice President and CFO, says: “It is great to see the continued strong interest and support for SKF and our ambitions to support sustainable industries and operate our business in a responsible and sustainable way. We are committed to reduce friction, energy, consumption and waste, which is a fundamental part of our business. The issuance of our second Green Bond places more emphasis on the integration of sustainability into our strategic framework and day-to-day of the business”.

SKF, as previously communicated, has correctly assigned the 300 million euros raised in the first Green Bond with 90 eligible projects. Read more about SKF’s green finance framework and find detailed information about the new bond and the terms of the issue at https://investors.skf.com/en/green-finance-framework.

Fact Sheet: SKF Green Bond
Volume: 400 million euros
Tenor: 6 years
Interest spread: MS+95 bp
Yield: 3.257%
Coupon: 3.125%
Price: 99.291%
Settlement day: September 14, 2022
Listing: Luxembourg Stock Exchange (LuxSE). The green bond will also be listed on the Luxembourg Green Exchange (LGX).

The limited company SKF
(published)

For more information, please contact:
PRESS: Carl Bjernstam, Communication Group
phone: 46 31-337 2517; mobile: 46 722-201 893; e-mail: [email protected]

INVESTOR RELATIONS: Patrick StenbergHead of Investor Relations
phone: 46 31-337 2104; mobile: 46 705-472 104; [email protected]

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SOURCE SKF