Credit market

Gränges' treasury function ensures that the Group’s financing is secured by managing the loans, lines of credit and liquidity and that the financial exposure is in line with the Group’s financial policy.

Gränges' financing mainly consists of term loans, credit facility loans, commercial papers and bonds issued under the Group’s MTN program. As per 31 December 2023, the interest-bearing debt amounted to SEK 3,459 (5,060) million, whereof SEK 1,055 million is due in 2024.

Gränges has a multi-currency Revolving Credit Facility of SEK 3,500 million which expires in December 2025.

Gränges has a commercial paper program available in Swedish Krona with a framework amount of SEK 2,000 million. A total of SEK 797 million of Commercial papers was issued as per 31 December 2023.

More details about Gränges financial and interest-bearing liabilities are presented in the Annual report.

MTN Program

Gränges has an MTN Program (Medium Term Notes) with a framework amount of SEK 3 billion. The prospectus has been approved by Finansinspektionen, the Swedish financial supervisory authority, and is also available at www.finansinspektionen.se.

Documents

Prospectus 2024:

Grundprospekt 2024-10-31.pdf (Swedish) 

Prospectus 2023:   

Grundprospekt 2023-09-21.pdf (Swedish)

Prospectus 2021:   

Grundprospekt 2021-09-20 (Swedish)

Final terms:  

 
Green and Sustainability-Linked Finance Framework

To support Gränges’ sustainability ambitions and targets, the company has published a Green- and a Sustainability-Linked Finance Framework to allow for the issuance of Green Bonds and Sustainability-Linked Bonds.

The Green Finance Framework specifies three project categories for green financing: Sustainable and Circular Aluminum Solutions, Energy Intensity and Technology, and Renewable Energy.

The Sustainability Linked Finance Framework incorporates Gränges’ ambitious greenhouse gas reduction targets, which were validated by the Science Based Targets initiative (SBTi) in November 2023.

The Green Finance Framework and the Sustainability-Linked Finance Framework replaces the combined Green and Sustainability-Linked Finance Framework established in September 2021.

Sustainalytics has been engaged as an external reviewer to issue an independent second-party opinion of the Green Finance Framework, verifying its credibility, impact, and alignment with the Green Bond Principles and Green Loan Principles. Sustainalytics has also been engaged to provide a second-party opinion to the Sustainability-Linked Finance Framework assessing the relevance, robustness, reliability, and ambition level of the selected KPIs and SPTs and confirming its alignment with the Sustainability-Linked Bond Principles and the Sustainability-Linked Loan Principles.

Gränges Green Finance Framework

Gränges Sustainability-Linked Finance Framework

Second-Party Opinions by Sustainalytics

Gränges Green Finance Framework Second-Party Opinion

Gränges Sustainability-Linked Finance Framework Second-Party Opinion

For further information, please contact:

Gustav Mårtensson, VP Group Treasury
Phone: +46 70 644 80 15
gustav.martensson@granges.com