By Jennifer Chiou
New York, Oct. 9 - Opus Group AB announced the issue of SEK 200 million of floating-rate senior bonds due Oct. 17, 2017 with Swedbank AB as the bookrunner.
The coupon is Stibor plus 450 basis points.
The company will apply to list the bonds on Nasdaq OMX Stockholm.
"This is the first time that Opus Group has issued a bond, and we are very pleased with the strong interest from investors, which led to a heavily oversubscribed book," president and chief executive officer Magnus Greko said in a news release.
"The funds will primarily be used to repay the vendor note received from AB Svensk Bilprovning in connection with Opus Group's acquisition of Besiktningskluster 1 AB (today Opus Bilprovning AB) in November 2012. The remainder of the funds will be used to finance ongoing operations."
Mölndal, Sweden-based Opus is focused on vehicle inspection technology and operations.
| Issuer: | Opus Group AB
|
| Issue: | Senior bonds
|
| Amount: | SEK 200 million
|
| Maturity: | Oct. 17, 2017
|
| Coupon: | Stibor plus 450 bps
|
| Bookrunner: | Swedbank AB
|
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