Electrolux: makes two bond issues

(CercleFinance.com) - Electrolux is raising 3.
4 billion Swedish kronor (about 310 million euros) via two bond issues on Monday as the home appliance maker is coping with the devastating effects of the Covid-19 pandemic.

The two bond loans under the company's Euro Medium Term Note (EMTN) program both mature in 2023, the company said.

However, one loan is issued at a fixed rate and carries a coupon of 1.995% per annum, while the other has a floating interest rate.

They will be listed on the Luxembourg Stock Exchange.

Electrolux has been taking "aggressive" actions to reduce the risk to earnings and cash flow in light of the coronavirus pandemic.

Amongst other measures, its board has decided that no dividend will be paid to shareholders for fiscal year 2019.

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