Vasakronan is establishing a change of control clause in all loan agreements that grant lenders the right to request premature repayment of loans, if the Swedish government's ownership interest should fall below 51 percent. Vasakronan will withdraw its rating at Standard & Poor's and, accordingly, is offering to repurchase bonds.

Vasakronan's borrowing, which amounts to about SEK 15 billion, is mainly on the Swedish capital market. The credit rating from Standard & Poor's is BBB, stable outlook. A change of control clause that strengthens the lenders' rights is being established in all loan agreements, including bank financing. The clause means that lenders have the right to request premature repayment of loans, if the ownership interest of the Swedish government should fall below 51 percent. Vasakronan is wholly owned by the Swedish government. The Swedish government's long-term ambition with the ownership in Vasakronan is to support the company's development to create the...