Refinancing risks and liquidity

At December 31st 2025, the financial liabilities amounted to SEK 34,669m. After additions for net provisions for pensions, leasing, cash and cash equivalents, interest-bearing receivables, the net debt was SEK 26,543m.

Essity’s financing is partly secured through committed bank credit facilities. With these as protection against refinancing risks, Essity uses short-term borrowing under market programs.

Essity’s policy is that loan documentation should not contain clauses that entitle the lenders to terminate the loans or change coupon rates when changes occur in Essity’s financial key ratios or credit ratings.

As per December 31st 2025, unutilized bank credit facilities amounted to SEK 42,524m. In addition, cash and cash equivalents amounted to SEK 8,487.

Bank credit facilities

At December 31st 2025, Essity has three syndicated bank facilities: EUR 2,000 (SEK 21,599) with a due date in 20261), EUR 938m (SEK 10,125m) with a final due date in 20272) and EUR 1,000m (SEK 10,800m) with a final due date in 2030.

1) Essity has in January 2026 cancelled the credit facility with maturity in 2026.
2) The syndicated credit facility expiring in 2027 was refinanced in January 2026. The new credit facility falls due in 2031 and the nominal amount is EUR 750m.