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Storskogen Group B — Capital/Financing Update 2024
Sep 26, 2024
2976_rns_2024-09-26_48b64494-d937-40eb-9cf9-d012f3e31941.pdf
Capital/Financing Update
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Storskogen successfully issues bonds of SEK 1.25 billion to finance the partial tender offer
2024-09-26 Regulatory information
Storskogen Group AB (publ) ("Storskogen") successfully issues senior unsecured bonds of SEK 1.25 billion to finance a partial tender offer, which Storskogen announced on 24 September 2024.
Storskogen has successfully issued senior unsecured bonds of SEK 1.25 billion under a framework of SEK 2 billion. The bonds will carry a floating interest rate of 3m Stibor + 325 basis points per annum and mature in October 2028.
The bond issue is expected to settle on 3 October 2024 and the proceeds from the bond issue will be used to finance a partial tender offer regarding Storskogen's outstanding bonds of SEK 1.75 billion with maturity in December 2025¹, which Storskogen announced on 24 September 2024, and for general corporate purposes.
"We are pleased with the continued support from credit investors, which has enabled us to gradually extend our debt maturities, including the one in December 2025 that we address with this successful transaction. With no major bond maturity until 2027, our balance sheet remains strong, providing greater flexibility as we maintain our focus on operational excellence", says Lena Glader, CFO of Storskogen.
Storskogen intends to apply for admission to trading of the bonds on the corporate bond list of Nasdaq Stockholm.
Danske Bank, Nordea and Swedbank have acted as global coordinators and Danske Bank, Nordea, and Swedbank together with DNB Markets and SEB have acted as joint bookrunners in the transaction.
Gernandt & Danielsson acted as legal advisor.
For more information, please contact:
Andreas Lindblom, Head of Investor Relations
+46 72 506 14 22
For media inquiries, please contact:
Michael Metzler, Head of Communication
+46 73 305 59 55
STORSKOGEN | PRESS RELEASE
¹ The total outstanding amount is SEK 3.0 billion, of which Storskogen has previously purchased and holds bonds in an amount of SEK 1.25 billion on balance.
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ABOUT STORSKOGEN
Storskogen is an international group of businesses across trade, industry and services. As a long-term owner, we are positioned to identify, acquire, and develop market leaders with sustainable business models. Storskogen creates value by providing access to capital and strategic direction combined with active governance and a decentralised operational model. Storskogen has approximately 12,000 employees, net sales of SEK 35 billion (LTM) across a diversified group of businesses and is listed on Nasdaq Stockholm.
STORSKOGEN | PRESS RELEASE
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