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Essity B 241 (-2.2 SEK) on 15-Dec-2017 16:39

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Funding sources and maturity profile (SEKm), September 30th 2017.

Refinancing risks and liquidity

At September 30th 2017, the financial liabilities amounted to SEK 55,530m. After additions for net provisions for pensions, cash and cash equivalents, interest-bearing receivables, the net debt was SEK 53,112m.
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 September 30th 2017, unutilized bank credit facilities amounted to SEK 19,169m. In addition, cash and cash equivalents amounted to SEK 4,429m.

Bank credit facilities

At September 30th 2017, Essity has two syndicated bank facilities: EUR 1,000m (SEK 9,668m) with a final due date in 2019 and EUR 1,000m (SEK 9,668m) with a final due date in 2021.
Commercial papers-2 156-2 156
Bond loans0-2 862-3 000-2 868-4 779-5 698-18 095-37 302
Utilization of credit lines0
Other loans-1 234-4 473-2 214-730-3 877-1 596-1 947-16 072
Total-3 390-7 335-5 214-3 598-8 656-7 295-20 042-55 530
Cash and cash equivalents4 429        
Unutilized credit lines19 169-52 -9 558 -9 558   


Johan Rydin

Vice President & Group Treasurer

Direct: +46 8-788 51 34