EQS-News

Go North Group AB (publ) has successfully placed SEK 550 million equivalent of senior secured floating rate bonds

EQS-News: Go North Group AB / Key word(s): Bond Go North Group AB (publ) has successfully placed SEK 550 million equivalent of senior secured floating rate bonds 26.01.2023 / 18:10 CET/CEST The issuer is solely responsible for the content of this announcement.

Gothenburg 26 January 2023

 

Go North Group AB (publ) has successfully placed SEK 550 million equivalent of senior secured floating rate bonds

Go North Group AB (publ) (“Go North” or the “Company”) has, following a bookbuilding process, successfully placed SEK 550 million equivalent of senior secured floating rate bonds with qualified investors in the Nordics, Europe, and the U.S. (the “New Bonds”). The New Bonds will be issued in two tranches of which SEK 350 million will be issued on the first issue date (the “SEK Tranche”) and equivalent to SEK 200 million is an underwritten subsequent bond issue (the “USD Tranche”). The USD Tranche will be non-interest-bearing until any drawdown and New Bonds issued in the USD Tranche may be issued in either USD or SEK.

The New Bonds will have a tenor of 3 years and carry a floating rate coupon of 3m STIBOR + 1,100 basis points per annum in the SEK Tranche and 3m LIBOR + 1,100 basis points per annum in the USD Tranche.

Proceeds from the New Bonds will be applied towards redeeming the Company’s outstanding bond with ISIN SE0018040867 (the “Existing Bonds”), paying transaction costs, and to finance general corporate purposes, including investments and acquisitions. The transaction received strong interest from investors across the Nordics, Europe, and the U.S. with participation in the placement from both existing and new investors, ultimately resulting in an oversubscribed book.

With respect to the redemption of the Existing Bonds, please refer to the separate announcement for further details.

Settlement of the New Bonds will take place on 9 February 2023 and bonds issued in the SEK Tranche will be listed on Nasdaq Stockholm (or another regulated market) within 12 months of the first issue date and the Open Market of Frankfurt Stock Exchange or another MTF as soon as practicable.