The financing of Husqvarna is managed centrally by Group Treasury in order to ensure efficiency and risk control. Debt is primarily raised at Parent Company level and transferred to subsidiaries as internal loans or capital injections. In this process, various derivatives are used to convert the funds to the required currency. Financing is also undertaken locally, mostly in countries in which there are legal restrictions preventing financing through Group companies.
The major part of the Group's financing is currently conducted through bilateral loan agreements, bonds through a Swedish Medium Term Note (MTN) program and other bond financing. In addition, the Group has a SEK 6,000m unutilized committed revolving credit facility maturing in 2016. Due to the nature of its business, the Group has major seasonal variations in its funding needs. These variations have during 2012 been managed mainly by utilizing the Group's commercial paper (CP) program and short-term bank loans.
|Total borrowings 2012||Facility amount 2012||Total borrowings 2011||Facility amount 2010|
|Medium Term Note Program||2,511||5,000||1,535||5,000|
|Other bond loans||2,165||-||2,169||-|
|Committed revolving credit facility||-||6,000||-||6,000|
|Long-term bank loans||2,373||-||3,556||-|
|Other short-term loans||708||-||440||-|
|Fair value derivate liabilities||285||-||352||-|