May 25, 2007
Stockholm, Sweden, May 24, 2007: Atlas Copco has successfully completed a multi-currency bond issue program, which together with the recently decided distribution of capital of MSEK 27 315 to the shareholders will provide the Group with a more efficient capital structure.
Atlas Copco has priced a MSEK 2 000 3-year issue, a MSEK 3 000 5-year issue, a MEUR 600 7-year issue, and a MUSD 800 10-year issue. The mandated lead arrangers for the SEK bonds were Nordea and SEB, for the EUR bond Citi, Deutsche Bank and SEB, and for the USD bond Citi and Deutsche Bank.
“Our financial position is very strong after a number of years with improved profitability and the recent sale of our construction equipment rental business in North America,” says Atlas Copco’s Group Treasurer Ken Lagerborg. “We’re now adjusting our balance sheet to a more efficient structure. We are pleased with the strong reception from investors, which resulted in attractive funding levels.” Atlas Copco has not been active in the debt capital markets since 1999.
Following Atlas Copco’s announcement of capital distribution to the shareholders and the Dynapac and ABAC acquisitions, both Moody’s and Standard & Poor’s affirmed Atlas Copco’s A3 and A- ratings respectively.
At the end of the first quarter, Atlas Copco had a net cash position of BSEK 12.5. Following the distribution of capital and the payments for the Dynapac and ABAC acquisitions, the Group will have pro forma net indebtedness of approximately BSEK 22.
For further information please contact:
Ken Lagerborg, Group Treasurer, Atlas Copco AB
+46 (0)8 743 81 83 or +46 (0)73 230 81 83
Mattias Olsson, Investor Relations
+46 (0)8 743 8291 or +46 (0)70 518 8291