By Susanna Moon
Chicago, May 19 – Opus Group AB said it issued SEK 500 million of senior bonds due May 2021 with a coupon of Stibor plus 475 basis points.
The bonds were issued under a framework of up to SEK 800 million, according to a company notice.
Proceeds will be used to finance the company’s continued expansion and to repay the majority of the company’s remaining bank debt.
The oversubscribed bond issue was placed mainly with Nordic investors with “additional demand from continental Europe and added several new investors to Opus Group,” the release noted.
Pareto Securities is the financial adviser.
“We issue a new corporate bond to finance Opus Group’s continued expansion and to repay the majority of the company’s remaining bank debts,” president and chief executive officer Magnus Greko said in a press release.
“We see interesting business opportunities going forward and the restructuring of our financing will better enable the company to take advantage of these potential growth opportunities”
Molndal, Sweden-based Opus is focused on vehicle inspection technology and operations.
| Issuer: | Opus Group AB
|
| Issue: | Senior bonds
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| Amount: | SEK 500 million
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| Maturity: | May 2021
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| Coupon: | Stibor plus 475 bps
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