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Essity B 220.3 (+1.3 SEK) on 24-Mar-2018 17:29

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Funding sources and maturity profile (SEKm), December 31th 2017.

Refinancing risks and liquidity

At December 31th 2017, the financial liabilities amounted to SEK 54,838m. After additions for net provisions for pensions, cash and cash equivalents, interest-bearing receivables, the net debt was SEK 52,467m.

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 31th 2017, unutilized bank credit facilities amounted to SEK 19,679m. In addition, cash and cash equivalents amounted to SEK 4,107m. 

Bank credit facilities

At December 31th 2017, Essity has two syndicated bank facilities: EUR 1,000m (SEK 9,840m) with a final due date in 2019 and EUR 1,000m (SEK 9,840m) with a final due date in 2021.

The facility with maturity 2019 was cancelled  in January 2018 and replaced with a new  facility  of the same amount, with final maturity year 2023 and with two extension options of one year each

Commercial papers0
Bond loans-2 946-3 000-2 952-4 920-5 866-4 920-13 708-38 311
Utilization of credit lines0
Other loans-4 255-2 780-770-5 104-1 596-45-1 978-16 527
Total-7 201-5 780-3 721-10 024-7 462-4 965-15 685-54 838
Cash and cash equivalents4 107        
Unutilized credit lines19 679 -9 840 -9 840    


Johan Rydin

Vice President & Group Treasurer

Direct: +46 8-788 51 34