22 March 2024 Company announcement no. 9
On 19 March 2024, SGL Group ApS (formerly Skill BidCo ApS) (the "Company") announced that it considered an issuance of new senior secured bonds (the "Bond Issue" or the "New Bonds). The Company has today, following a bookbuilding process, successfully placed the New Bonds in an amount of EUR 600,000,000 (ISIN: NO0013183624). The New Bonds have a tenor of 6 years and a floating interest rate of 3 months EURIBOR plus 475 bps per annum. The Bond Issue was met with strong demand from new and existing institutional investors primarily based in the Nordics, Continental Europe, the UK, and the US, allowing the transaction to be upsized and ultimately placed at a price of 99% of par. Settlement of the Bond Issue is expected to be on or about 22 April 2024.
With reference to the press release issued on 19 March 2024, the proceeds from the Bond Issue will be applied towards (i) acquisitions, general corporate purposes and payment of transactions costs in an amount of approximately EUR 100,000,000, (ii) buy-backs of the Company's outstanding EUR 750,000,000 Senior Secured Callable Floating Rate Bonds (ISIN: NO0012826033) (the "Existing Bonds"), and (iii) voluntarily partially redeem Existing Bonds.
In conjunction with the Bond Issue, the Company intends to buy-back Existing Bonds. The quantum of such buy-back has not been determined and will be announced by way of a separate announcement from the Company.
Pareto Securities acted as Sole Global Coordinator and Sole Bookrunner and Roschier Advokatbyrå and Freshfields Bruckhaus Deringer acted as legal adviser in connection with the Bond Issue.
For further information about the Company, please contact:
Martin Gregersen, Head of Group Treasury or Simon Kusk, Head of Group Finance
[email protected] | (+45) 32 48 00 00
For further information about the buy-back of existing bonds, please contact:
Pareto Securities in capacity of Sole Global Coordinator and Bookrunner:
Markus Wirenhammar, Head of Investment Banking
[email protected]
This information is information that SGL Group ApS is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 18.15 CET on 22 March 2024.
SGL Group ApS