Debt and funding programs

Billerud maintains strong access to long term capital markets and uses multiple sources of funding. Billerud does not have credit ratings and has not issued any sustainability-linked or green bonds.

The company aims to achieve a reasonable diversified lender base and a repayment structure where loan maturity is evenly spread over time.

Billerud’s short term funding is met by a Swedish Commercial Paper program, committed facilities and a revolving credit facility committed by a group of banks.

The long term funding is met by a bond program for Medium Term Notes (MTN), as well as other bond loans from the Swedish Export Credit Corporation. In addition, Billerud has long term bilateral (term) loans from the European Investment Bank, the Nordic Investment Bank and commercial banks.

Debt portfolio, 30 September 2024

		Maturity, years
Loan	Limit, SEKm	0-1	1-2	2-	Total utilized
Syndicated credit facilities	5,500				–
Term loans		500	101	1,800	2,401
Bond loans within MTN program	7,000	–	1,250	1,250	2,500
Other bond loans		1,000	–	600	1,600
Commercial paper	4,000	1,066			1,066
Group total		2,566	1,351	3,650	7,567

Commercial Paper program
Loan frame: SEK 4 billion
Issuing institutions: Danske Bank, DNB, Nordea, SEB, Handelsbanken and Swedbank
Certificates with terms of up to one year can be issued in both SEK and Euro.
More information can be found in this information brochure.

Medium Term Note (MTN) program
Loan frame: SEK 7 billion
Issuing institutions: Danske Bank, DNB, Nordea, SEB, Handelsbanken and Swedbank
Bonds can be issued in SEK or Euro.
More information can be found in this prospectus and in the table below. Click on MTN number to view final terms (In Swedish)

MTN nr	Settlement date	Maturity	Interest rate construction	Nominal amount
115	9 February 2023	5 year	Floating	SEK 500m
116	9 February 2023	5 year	Fixed	SEK 750m
117	9 February 2023	3 year	Floating	SEK 400m
118	9 February 2023	3 year	Fixed	SEK 850m