Holmen's financing activities are centralised within Group Finance based at the headquarters in Stockholm.

As part of Holmen’s strategy, it is stated that the Group shall have a strong financial position that provides financial stability to enable the Group to make correct and long-term business decisions relatively independently of the state of the economy and external financing possibilities. The target for the debt/equity ratio is a maximum of 0.5 and the strategic planning includes harmonising the financial position with this target.   

For parts of Holmen’s financing, debt programmes, where commercial papers and bonds can be issued on the Swedish capital market, are utilised. The commercial paper programme has a limit of MSEK 6 000 and papers with a duration of up to one year may be issued in both Swedish krona and euro. Holmen’s Medium Term Note programme, where bonds in krona or euro with durations between one and fifteen years may be issued, has a limit of MSEK 6 000. More information about the programme can be found in the prospectus (in Swedish) to the right.  

The Group has unused long-term contractually agreed credit facilities of EUR 400 million, maturing in 2020–2021. The credit facilities can be used for financing and as a liquidity reserve and may be utilised provided the debt/equity ratio is below 1.25. The Group’s debt/equity ratio on December 31 2018 was 0.12.  

Credit rating

Holmen has a short- and long-term corporate credit rating from Standard & Poor’s. Holmen has a BBB+ long-term rating and A-2 short-term rating. 

S&P Rating report July 2018.pdf 



Head of Treasury & Controlling
Stefan Lorehn Holmen
Mobile: +46 70 297 21 71
Department: KEF, Treasury & Controlling
P.O. Box 5407 SE-114 84 Stockholm
Sweden / Sverige

Holmen AB, P.O. Box 5407, SE-114 84 Stockholm, Sweden. 

Tel: +46 8 666 21 00  E-mail: info@holmen.com


Modern Slavery Act Transparency Statement


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