Storskogen successfully issues bonds of SEK 1.25 billion to finance the partial tender offer
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.
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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For more information, please contact:
Andreas Lindblom, Head of Investor Relations
+46 72 506 14 22
andreas.lindblom@storskogen.com
For media inquiries, please contact:
Michael Metzler, Head of Communication
+46 73 305 59 55
michael.metzler@storskogen.com