New York, June 17 – Scan Bidco A/S said it priced $70 million of senior secured bonds with a 7.7% coupon and DKK 200 million senior secured bonds with a 6.8% coupon. Both tranches are due in 2022, according to a company announcement.
Pareto Securities was bookrunner for the bonds.
Proceeds will be used to help finance the acquisition of Scan Global Logistics Holding ApS. Scan Global announced on June 1 that it had agreed to be purchased by private equity company AEA Investors from the current owner, Danish investment firm BWB Partners.
Scan Global also said that it plans to repay its DKK 375 million of bonds due 2018 and will issue a call notice on the closing of the acquisition.
The new bonds were bought by approximately 40 investors, mostly institutional buyers from Sweden, Denmark and Finland.
Scan Global is a Copenhagen, Denmark-based global freight forwarder.
| Issuer: | Scan Bidco A/S (Scan Global Logistics Holding ApS)
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| Issue: | Senior secured bonds
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| Maturity: | 2022
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| Bookrunner: | Pareto Securities
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| Dollar tranche
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| Amount: | $70 million
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| Coupon: | 7.7%
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| Danish krone tranche
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| Amount: | DKK 200 million
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| Coupon: | 6.8%
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