Capital markets funding
Stillfront has adopted a centralized funding strategy with the aim to utilize a broad variety of funding sources and to distribute the maturities over time. The funding strategy aims to assure access to funds, support the group’s business opportunities and maintain a balanced financial risk. The financing activities manage the cash and cash equivalents, benefit from economies of scale and optimize the group’s financial net efficiently.
2024/2028 Bond
March 20, 2024, Stillfront Group AB (publ) issued 1,000 MSEK of senior unsecured bonds under a new bond framework of up to 2,000 MSEK with final maturity in 2028.
2023/2027 Bond
September 7, 2023, Stillfront Group AB (publ) issued 1,000 MSEK of senior unsecured bonds under a new bond framework of up to 2,000 MSEK with final maturity in 2027 (ISIN: SE0020846624).
2021/2025 Bond
May 11, 2021, Stillfront Group AB (publ) issued 1,500 MSEK of senior unsecured bonds under a new bond framework of up to 2,000 MSEK with final maturity in 2025 (ISIN: SE0015961065).
March 14, 2024, Stillfront Group AB (publ) announced a conditional tender offer to the holders of all of its outstanding senior floating rate bonds maturing in May 2025 with ISIN SE0015961065 and outstanding amount of 1,500 MSEK.
March 27, 2024, Stillfront announced the results of the tender offer and that Stillfront exercised its right to make a voluntary early redemption of all bonds from holders that had not accepted the tender offer. The settlement for the tender offer occurred on 27 March 2024 and the settlement for the early redemption occured on 15 April 2024.
2019/2024 Bond
June, 26, 2019, Stillfront Group AB (publ) issued 500 MSEK of senior unsecured bonds under a new bond framework of up to 1,000 MSEK senior unsecured bond loan due 2024.
The ISIN for these bonds is ISIN: SE0012728830.
January 29, 2020, Stillfront Group AB (publ) issued 500 MSEK of subsequent bonds under the 1,000 MSEK framework of its 2019/2024 senior unsecured bond loan (ISIN: SE0012728830) Following the Issue, the total amount outstanding under the Bond Loan is 1,000 MSEK.
September 4, 2023, Stillfront Group AB (publ) announced a tender offer to the holders of all of its outstanding senior floating rate bonds maturing on 26 June 2024 with ISIN SE0012728830 and outstanding amount of 1,000 MSEK. September 7, 2023, Stillfront announced the results of the tender offer and that Stillfront exercised its right to make a voluntary early redemption of all bonds from holders that had not accepted the tender offer. The settlement for the tender offer occurred on 14 September 2023 and the settlement for the early redemption occured on 3 October 2023.
2018/2022 Bond
On November, 13, 2018, Stillfront Group AB (publ) issued 600 MSEK in 4-year senior unsecured bonds under a new bond framework of up to 1,000 MSEK senior unsecured bond loan due 2022 (the “2022 Bonds”).
On September 9, 2022, Stillfront formally exercised its right to make a voluntary early redemption of all of its outstanding senior floating rate bonds maturing on 22 November 2022 with ISIN SE0011897925 and outstanding amount of SEK 600 million (the “Bonds”). The bonds were redeemed in accordance with their terms and conditions at a price equal to 100.50 percent of the outstanding nominal amount plus accrued and unpaid interest from, but excluding, the previous interest payment date until, and including, the early redemption date which occurred on 5 October 2022.
Term loan facilities
2022/2026 Term loan
September 9, 2022, Stillfront announced new unsecured term loan facility agreement of EUR 60 million with Swedish Export Credit Corporation (SEK) as lender. The new term loan facility agreement has a four (4) year term and strengthens Stillfront’s financial position and further diversifies the company’s financing platform.
Credit facilities
Revolving credit facility
December 10, 2020, Stillfront Group AB (publ) signed an unsecured revolving credit facility of SEK 3,750 million with maturity in December 2023. The facility is supported by DNB Bank ASA, Sweden Branch; Nordea Bank Abp, filial i Sverige; and Swedbank AB (publ). November 21, 2022, Stillfront utilized its two-year extension option of the existing unsecured revolving credit facility, with new maturity date in December 2025.
Overdraft facilities
Stillfront has an overdraft facility of SEK 200 million with Swedbank AB (publ). This facility is extended on a yearly basis.