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FINANCIALS: Klarna: Picking GS For US IPO; May Become EUR Issuer In Time

FINANCIALS

Klarna (KLARNA: BBB-) reportedly picking Goldman for US IPO. Not credit moving now but likely one to watch for the future.

  • Klarna, the buy-now-pay-later POS operator, is planning a US IPO with a previously-reported valuation of as much as USD20bn. Its private valuation rounds have peaked at USD45.6bn (BBG). 
  • Klarna only currently has four SEK floaters outstanding (total SEK1.8bn) but, post-IPO, we would certainly expect the company to issue further in EUR and USD as the business matures. The short-term nature of its lending is more suited to revolvers in the group’s infancy.

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