Funding
The SCA Group's financial risk management is centralized to capitalize on economies of scale and synergy effects and to minimize operational risks.
The central treasury function is responsible for the Group's borrowing, liquidity management, currency and interest rate risk management, and serves as an internal bank for the Group's financial transactions. In addition to ensuring that the SCA Group has secure financing, financial transactions are conducted with the aim of limiting the Group's financial risks.
Funding and debt programmes
SCA’s funding is based on committed credit facilities with the bank group, bilateral loans from European Investment Bank, Nordic Investment Bank, Swedish Export Credit Corporation, commercial banks and through public programmes. All financial transactions are conducted within the approved mandates of the Board of Directors.
To ensure good access to financing at attractive terms, SCA has a clear objective to maintain an investment grade rating. SCA’s policy is that loan documentation should not contain clauses that entitle the lenders to terminate the loans or change coupon rates when changes occur in SCA’s financial key ratios.
SCA’s current debt, maturity profile, and liquidity reserves are shown in the following summary, SCA’s Debt Q2 2024.
Sustainable finance
SCA’s financing activities are to a large extent linked to or based on SCA’s sustainability efforts and the transition towards a fossil-free and circular society. So far SCA’s financing includes various bilateral loans based on SCA’s sustainable investments or assets, and also credit facility with link to SCA’s sustainability targets. In 2021 SCA established a green bond framework with the ambition to further diversify the green financing capabilities. The framework has a Second Party Opinion with a dark green shading from Cicero Shades of Green. Below are links to the framework, the second opinion, the SCA Green Bond Report's, and further information about SCA´s sustainability platform and the aligned targets.
SCA Green Bond Investor Presentation – June 2021
More about Sustainability at SCA
Bank credit facilities
SCA has one syndicated credit facility of 5 billion SEK with a final due date in 2026. The facility is since December 2020 linked to SCA’s sustainability targets.
Debt programmes
Some of SCA:s funding is conducted by issuing commercial paper programmes and bonds under the following public issues.
MTN 2024 programme information (in Swedish)
MTN 2023 programme information (in Swedish)
MTN 2022 programme information (in Swedish)
MTN 2021 programme information (in Swedish)
MTN 2020 programme information (in Swedish)
Supplemental prospectus 2020-09-11 (in Swedish)
Final terms MTN 104 (in Swedish)
Final terms MTN 105 (in Swedish)
Final terms MTN 106 (in Swedish)
Final terms MTN 107 Green (in Swedish)
Final terms MTN 108 Green (in Swedish)
Commercial paper programme information (in Swedish)
| Outstanding public issues under the MTN-programme, sorted by maturity date |
|||||
| Loan number | Nominal amount (MSEK) |
Interest | Transaction day | Maturity day | ISIN-code |
| 104 |
300 | Fixed interest | 2020-09-23 | 2025-09-23 | SE0013882560 |
| 105 | 1 000 | Floating rate interest (FRN) | 2020-09-23 | 2025-09-23 | SE0013882578 |
| 106 | 1 200 | Fixed interest | 2020-09-23 | 2027-09-23 | SE0013882586 |
| 107 Green | 1 100 | Floating rate interest (FRN) | 2021-06-21 | 2028-06-21 | SE0013102373 |
| 108 Green | 400 | Fixed interest | 2021-06-21 | 2028-06-21 | SE0013102381 |
Type: MTN (Medium Term Note)
Issuer: Svenska Cellulosa Aktiebolaget SCA (publ)
Max amount: 8 billion SEK
Arrangör: SHB
Issuing institutions/dealers:: Danske Bank, SEB, SHB, Swedbank
Issuing and Paying Agent: SHB
Type: Commercial Paper Swedish Programme
Issuer: Svenska Cellulosa Aktiebolaget SCA (publ)
Max amount: 5 billion SEK
Arrangör: SHB
Issuing institutions/dealers: Danske Bank, SEB, SHB, Swedbank
Issuing and Paying Agent: SHB
Related content
Annual and sustainability reports
Here you will find annual reports from 1996. Since 2021 the annual report is also presented in so-called ESEF format where certain data are labeled.
SCA's key figures
Profitable growth is a prerequisite, enabling SCA to continue to make important investments in forest and industry. Ultimately, this improves the possibilities of working with sustainability over time. Here you can get an overview of SCA's results and other key figures.