Ericsson finances its operations and investments through a combination of its own generated cash flow and external funding, mainly in the form of corporate bonds.
Senior bonds are issued under a Euro Medium Term Note programme (USD 5 billion). For short-term funding, Ericsson has a Swedish Commercial Paper program (SEK 10 billion) and a USD 500 million revolving credit facility. In addition, Ericsson has access to a USD 2 billion sustainability-linked revolving credit facility, which serves as a general liquidity back-up and ensures financial flexibility.