Brief: Axfood: Agreement Signed For Automation Of New Highly Automated Logistics Centre

Axfood AB

07/11/2019 07:17

Nov 7 (Reuters) - Axfood AB  AXFO.ST :
    * AGREEMENT SIGNED FOR AUTOMATION OF AXFOOD'S NEW HIGHLY AUTOMATED LOGISTICS CENTRE
    * AGREEMENT SIGNED FOR AUTOMATION OF AXFOOD'S NEW HIGHLY AUTOMATED LOGISTICS CENTRE
    * TOTAL CONTRACTED INVESTMENT WITH WITRON AMOUNT TO EUR 240 M DURING PERIOD 2019-2023.
    * IN ADDITION, AXFOOD HAS SIGNED AN AGREEMENT WITH SWEDBANK AND SEB ON A FIVE-YEAR REVOLVING
CREDIT FACILITY FOR SEK 3.5 BN
    * AXFOOD WILL BE TAKING OUT CURRENCY HEDGES FOR PAYMENT FLOWS AS FOLLOWS: 100% OF PAYMENTS
IN
2019, 75% OF PAYMENTS IN 2021, 50% OF PAYMENTS IN 2022, AND 25% OF PAYMENTS IN 2023
    * DURING EACH OF FOURTH QUARTERS STARTING IN 2020, AXFOOD WILL HEDGE AN ADDITIONAL 25
PERCENTAGE
POINTS OF EACH YEAR'S INVESTMENT COMMITMENT UNTIL FULL HEDGING IS ACHIEVED.

Source text for Eikon:  ID:nWkr2sTptw 
Further company coverage:  AXFO.ST 

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