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Financing

Organization

Industrivärden’s financing and management of financial risks are conducted in accordance with guidelines set by the Board of Directors. Industrivärden’s finance function works primarily with financing and investment of temporary surplus liquidity.

Financing

Industrivärden’s financing is arranged through both short- and long-term borrowing. The credit facilities give Industrivärden the ability to act on attractive investment opportunities at short notice. No part of the financing is conditional upon any covenants. In addition, Industrivärden has unutilized committed bank loans totaling SEK 3,000 M.

Interest-bearing net debt as per December 31, 2019

  2019 2018
Exchangeable bond - 4,069
MTN program 3,055 2,809
Commercial paper 900 500
Provision for pensions 68 111
Other interest-bearing liabilities 232 75
Total interest-bearing liabilities 4,255 7,564
     
Less:    
Interest-bearing receivables -167 -177
Cash and cash equivalents -56 -786
Total 4,032 6,601

Maturity structure

Maturity structure for undiscounted, contracted interest-bearing liabilities and derivative instruments with negative market values as per December 31, 2019:

  2020 2021 2022 2023
Interest bearing liabilities 1) 1,935 1,250 1,000 -
Derivate instruments - - - 44
Total 1,935 1,250 1,000 44

1) Excluding pension provisions of sEK 68 M (111).

Last update: 02 Mar 2020