In order to ensure access to funding, LKAB has several borrowing programmes, both MTM programmes and commercial paper programmes.
MTM programmes
LKAB has an MTN programme for issuing corporate bonds, known as Medium Term Notes, up to a maximum of SEK 7 billion. Under this programme, LKAB can issue corporate bonds in Swedish kronor or euro with a duration of at least one year.
According to the programme's general terms, point 9, issued corporate bonds can be redeemed in advance in the event the Swedish state's ownership of LKAB should drop below 100 percent, known as reservation of title.