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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’s financial transactions.

Debt is primarily raised by the parent company Epiroc AB and transferred to the Group 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

Epiroc’s financing is secured through a revolving credit facility and a bridge facility from the banking group and a bilateral loan from European Investment Bank. The Bridge facility, up to SEK 6 billion, has a maturity of twelve months with two six-month extension options, exercisable at the discretion of Epiroc. The facility was entered into by Citibank, Danske Bank, Nordea and Skandinaviska Enskilda Banken. Epiroc intends to replace the bridge with medium and/or long term financing. The revolving credit facility (RCF), of SEK 4 billion, is available to be used for general corporate purposes and as a backup facility. The maturity is five years with the addition of two one-year extension options, exercisable at the first and secondary anniversary of the RCF, subject to the consent of the lenders. The facility was entered into by Bank of China, Citibank, Danske Bank, Deutsche Bank, Nordea, Skandinaviska Enskilda Banken, Standard Chartered Bank, and Svenska Handelsbanken.

Debt programs

Epiroc EMTN programme 

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

  • Epiroc EMTN Base Prospectus.pdf 934.5 kB, PDF
  • Presentation EMTN Program 2.2 MB, PDF

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.

  • 20181205 - S&P Global Ratings - Epiroc.pdf 316 kB, PDF
  • S&P Global Ratings - Epiroc.pdf 290.9 kB, PDF