Bayn Group AB (publ) (the "Company" or "Bayn Group") has decided to issue senior secured corporate bonds of SEK 100,000,000 (the"Bonds" orthe "Bond Issue") under a framework of SEK 500,000,000 with final maturity in January 2024. The net proceeds from the Bond Issue will increase the Company's financial preparedness and be used to finance future acquisitions and general corporate purposes.
The bond issue was well received by reputable Nordic institutional and retail investors and was heavily oversubscribed. The Bonds carry a fixed coupon of 9.5 percent and the expected settlement date is January 5, 2021. The Bonds are secured by a pledge of shares in current and future material subsidiaries and certain intercompany loans. The Company intends to list the Bonds on Nasdaq First North Bond Market.
"We are very pleased to have secured new debt financing in the capital market which marks another milestone in our strategic journey. Bayn Group has an M&A-driven growth strategy and the bond loan provides us with a flexible financing solution that enables us to accelerate our acquisition agenda and quickly act on new potential acquisition candidates" - Simon Petrén, Deputy CEO.
Carnegie Investment Bank acted as Sole Bookrunner and Gernandt & Danielsson KB as legal advisor in relation to the Bond Issue.
For further information, please contact:
Simon Petrén, Deputy CEO, Bayn Group AB
Phone: +46 70 999 94 55
E-mail: simon.petren@bayngroup.com
This information is information that Bayn Group is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release was published by the contact person above, at the time stated by Bayn Group's news distributor Cision at the time of publication of this press release.
