By Paul A. Harris
Portland, Ore., Dec. 9 – West Atlantic AB has placed SEK 850 million of 6½% four-year senior secured bonds, according to a Wednesday news release from the company.
Pareto Securities was the bookrunner.
In conjunction with the issue the company plans to redeem all bonds under its outstanding SEK 500 million of 8% senior secured bonds, the release stated.
“Nearly 100 institutional and private wealth investors from all the Nordic countries as well as from the United Kingdom and continental Europe participated in the oversubscribed issue, according to the release.
“Since first accessing the bond markets more than two years ago, West Atlantic has delivered on its business plan and grown steadily and profitably,” Gustaf Thureborn, CEO of the company, stated in the Wednesday release.
“The strong demand seen for a new West Atlantic bond clearly reflects the company’s solid performance and illustrates the trust investors place in the business.”
“Now, with a new long-term financing solution in place, the company is well-positioned to continue its expansion, aimed at maintaining West Atlantic’s position as one of the leading dedicated air freight operators in Europe,” Thureborn added.
The company is based on Gothenburg, Sweden.
| Issuer: | West Atlantic AB
|
| Amount: | SEK 850 million
|
| Maturity: | December 2019
|
| Securities: | Senior secured bonds
|
| Bookrunner: | Pareto Securities
|
| Coupon: | 6½%
|
| Announcement: | Dec. 9
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
