Sandvik Utilizes Strong Balance Sheet for Debt Reduction

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Jun 27, 2019, 07:06 ET

STOCKHOLM, June 27, 2019 /PRNewswire/ -- During the second quarter, Sandvik has utilized its strong cash position for redemption of US private placement notes and a bilateral loan, to the total amount of 5,100 million SEK. The net cost related to the redemption amounts to -200 million SEK. Consequently, the finance net in the second quarter 2019 will amount to approximately -450 million SEK.

For the full year 2019 the finance net is estimated to about 1 billion SEK, in line with previous guidance, as the quarterly interest net will be lower as from the third quarter 2019, due to the lower debt level.

Additional details will be released in conjunction with the second quarter report at 11.30 CET on 17 July 2019.

Sandvik AB

For further information, contact:

Ann-Sofie Nordh, Vice President Investor Relations, phone: +46-8-456-14-94 or Martin Blomgren, Press and Media Relations Manager, Phone: +46-70-577-0549.

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Sandvik utilizes strong balance sheet for debt reduction

SOURCE Sandvik