Loan Programs and Facilities
Investor’s loan financing is primarily managed through short-term and long-term loan programs in the Swedish and European capital markets.
Investor has a European Medium Term Note Program (EMTN), which is an uncommitted loan program intended for long-term financing. This program is for EUR 5 bn. For short-term financing Investor has an uncommitted Swedish and an uncommitted European Commercial Paper program (CP/ECP) for SEK 10 bn. and USD 1.5 bn., respectively. Investor also has a committed syndicated bank loan facility of SEK 10 bn. until January 2022 with the option to be prolonged one year plus one. This facility can be used for financing and as a liquidity reserve. This facility was unutilized at year-end. In contrast to an uncommitted credit facility, a committed loan program is a formalized commitment from the credit grantor. There are no financial covenants to any of Investor AB's loan contracts, meaning that Investor does not have to meet special requirements with regard to key financial ratios for the loans it has obtained.
The tables below show Investors outstanding loan programs and facilities. The documentation for the programs shown below can be downloaded below.
Commercial paper (CP) Programs
| Program | Arranger | Dealers | Issuing and paying agent | |||
|---|---|---|---|---|---|---|
| USD 1,5 bn. ECP Program | UBS | Deutsche Bank, Goldman Sachs, SEB and UBS | Citibank N.A. |
| Program | Arranger | Dealers | Issuing and paying agent |
|---|---|---|---|
| SEK 10 bn. Swedish CP Program | SEB | Handelsbanken, Nordea, SEB and Swedbank | SEB |
European Medium Term Note (EMTN) Program
| Program | Arranger | Dealers | Issuing and paying agent |
|---|---|---|---|
| EUR 5 bn. EMTN Program | JP Morgan | Citigroup, Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley, UBS and SEB |
Citibank N.A. |
Back-up facility
| Facility | Purpose | Final maturity | Arrangers | Co-arrangers |
|---|---|---|---|---|
| SEK 10 bn. multi-currency revolving credit facility |
Liquidity reserve | January 2022, optional extension +1 year, +1 year |
Citigroup, HSBC and SEB | Barclays, BNP, DnB Nor, Danske bank, Deutsche Bank, JP Morgan, Goldman Sachs, Morgan Stanley, Nordea, Handelsbanken, Swedbank, RBS |
