March 12, 2018 / 7:43 AM / 3 months ago

BRIEF-Scandic Hotels Group: Commercial Paper Program Worth 2,000 Msek

March 12 (Reuters) - Scandic Hotels Group Ab:

* SCANDIC HAS ESTABLISHED A SWEDISH COMMERCIAL PAPER PROGRAM WITH A TOTAL VALUE OF 2,000 MSEK

* TENURE OF ISSUED COMMERCIAL PAPERS WILL BE BETWEEN THREE MONTHS AND ONE YEAR

* PROGRAM WILL MAINLY BE USED FOR SHORT-TERM FINANCING OF WORKING CAPITAL NEEDS

* WILL REPLACE OTHER SHORT-TERM FINANCING AND IS ESTIMATED TO REDUCE SCANDIC’S FINANCING COSTS.

* ISSUER AND PAYING AGENT FOR PROGRAM IS DNB

* ISSUING INSTITUTIONS ARE DNB, NORDEA AND HANDELSBANKEN. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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