Thursday, June 11, 2009

Ericsson Secures US$625 Million Loan from Swedish Export Credit Corp.

Ericsson signed a long-term bilateral loan of USD$625 million with SEK (The Swedish Export Credit Corporation), partially backed by EKN (The Swedish Export Credit Guarantee Board) working capital guarantee. Ericsson has signed a USD denominated 625 million seven-year loan with SEK. Ericsson said it intends to use the proceeds of the offering for refinancing of bonds maturing within the current and next year and for general corporate purposes. The loan will lengthen Ericsson's average debt maturity profile and provide a more efficient capital structure.