Debt market

18 July, 2014

Financial net debt as of June 30, 2014, amounted to SEK 7,464m

The financial net debt decreased by SEK 934m during the second quarter of 2014 as a result of the strong operating cash flow after investments. Net provision for post-employment benefits increased by SEK 224m. In total, net debt decreased by SEK 710m during the second quarter.

Long-term borrowings as of June 30, 2014, including long-term borrowings with maturities within 12 months, amounted to SEK 12,208m with average maturity of 3.1 years, compared to SEK 12,207m and 3.3 years at the end of 2013. During the second quarter, Electrolux issued a SEK 1,000m bond loan under its EMTN (Euro Medium Term Note) program, with a maturity on May 28, 2019, and at the same time repurchased bonds with maturities in 2015 and 2016, representing approximately the same total loan amount. During 2015, long-term borrowings in the amount of SEK 2,561m will mature.

Liquid funds as of June 30, 2014, amounted to SEK 6,991m (7,313), excluding short-term back-up facilities. Electrolux has two unused committed back-up facilities. One EUR 500m multi-currency revolving credit facility, approximately SEK 4,590m, maturing in 2018 and a credit facility of SEK 3,400m maturing in 2017.

More about debt market

A significant portion of the Group´s long-term borrowings are issued on the capital markets under the Group´s Euro medium-term note program.

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