Stillfront successfully issues bonds of SEK 850 million
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW
Stillfront Group AB (publ) (”Stillfront”) has successfully issued senior unsecured bonds (the “Bonds”) in an initial amount of SEK 850,000,000 and under a total framework of SEK 2,000,000,000. The Bonds carry a floating interest rate of 3m Stibor + 365 basis points and will mature on 3 September 2029. Stillfront intends to apply for admission to trading of the Bonds on the corporate bond list of Nasdaq Stockholm.
The proceeds from the issue of Bonds will be used for general corporate purposes (including but not limited to partial refinancing of drawn amounts under Stillfront’s existing multicurrency revolving credit facility, refinancing, investments, acquisitions and earn-out payments).
"We are pleased to have secured new debt financing with attractive terms, while successfully extending the maturity profile of our debt portfolio. With this new bond framework in place, Stillfront maintains a flexible financing platform and a strong balance sheet", says Andreas Uddman, CFO.
DNB Markets, a part of DNB Bank ASA, Sweden Branch, Nordea Bank Abp and Swedbank AB (publ) have acted as joint bookrunners and arrangers in conjunction with the issuance of the Bonds. Mannheimer Swartling has acted as legal advisor.