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Debt

Epiroc’s financial risk management is centralized to benefit economies of scale, to ensure good internal control and to facilitate monitoring of risk.

The central treasury function is responsible for the Group’s borrowing, liquidity management, currency and interest rate risk management, and serves as an internal bank for the Group.

Debt is primarily raised by the parent company Epiroc AB and transferred to subsidiaries as internal loans or capital injections. Financing is also undertaken locally, in countries which there are legal restrictions preventing financing through Group companies. 

Debt structure and Maturity profile

The long-term financing as of March 31, 2024 consists of capital market borrowings of MSEK 11 698 and bilateral loans of MSEK 3 991.

 

On April 10, 2024 Epiroc AB entered into a revolving credit facility (RCF), of MSEK 4 000 with maturity in 2029, to refinance the previous existing facility. The participating banks in the credit facility are Bank of China, Citibank, Danske Bank, Deutsche Bank, Nordea, Skandinaviska Enskilda Banken, Standard Chartered Bank, and Svenska Handelsbanken.  The Group also has a Swedish commercial paper program available, with a framework amount of MSEK 2 000. 

Debt programs

Epiroc EMTN programme 

Epiroc has a €1,500,000,000 Euro Medium Term Note Programme.

Green Bond framework

 

Epiroc’s green bond framework enable issuance of green bonds under Epiroc’s EMTN-program. The framework is rated CICERO Medium Green, please see second opinion from CICERO Shades of Green for more information.

Credit rating

Epiroc was assigned preliminary BBB+ credit rating from S&P Global Ratings on November 21, 2018. On December 5, 2018, Epiroc was assigned a BBB+ long-term issuer credit rating and a BBB+ rating to the SEK2 billion senior unsecured bonds that Epiroc issued on November 29, 2018.
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