Scandic has established a Swedish Commercial Paper Program with a total value of 2,000 MSEK.The tenure of issued commercial papers will be between three months and one year. The program will mainly be used for short-term financing of working capital needs and will replace other short-term financing and is estimated to reduce Scandic’s financing costs.
The issuer and paying agent for the program is DNB and issuing institutions are DNB, Nordea and Handelsbanken.
For more information, please contact:
Henrik Vikström, Director Investor Relations
Phone: +46 709 52 80 06
Scandic is the largest hotel company in the Nordic region with 16,000 team members and a network of around 280 hotels with about 55,000 hotel rooms in operation and under development. Scandic Friends is the biggest loyalty program in the Nordic hotel sector. Corporate responsibility has always been a part of Scandic’s DNA. Since December 2, 2015, Scandic has been listed on Nasdaq Stockholm. www.scandichotelsgroup.com