Novedo successfully places three-year senior secured bonds in an amount of SEK 1,250 million
Novedo Holding AB (publ) (”Novedo” or the “Company”) has today successfully placed senior secured bonds in an amount of SEK 1,250 million under a framework of SEK 2,000 million with a tenor of 3 years (the “New Bonds” or the “Bond Issue”). The New Bonds will carry floating interest of STIBOR 3m plus 7.00 percent per annum and are issued at par. The Bond Issue generated strong demand from a broad base of Nordic and international institutional investors and was oversubscribed.
Novedo will fully redeem its outstanding bond loan with ISIN SE0017070980 (the “Existing Bonds”) with the redemption date being October 4, 2024, and the record date being September 27, 2024 (the “Early Redemption”), subject to the New Bonds being successfully issued by the record date for the redemption. Upon the Early Redemption, the Existing Bonds will be redeemed at the redemption price of 100.65 percent of the outstanding nominal amount, together with accrued but unpaid interest up to and including the redemption date. The Company will publish a press release if the condition is not fulfilled. A notice of early redemption will be sent to directly registered holders of the Existing Bonds in the debt register as of September 9, 2024, and the notice of early redemption will be available on Novedo’s website.
The refinancing of Novedo’s Existing Bonds is a condition for disbursement of net proceeds from the Company's convertible bond issue, announced by a press release on August 30, 2024.
The issue date for the New Bonds is expected to be September 23, 2024, and the Company intends to list the New Bonds on the Corporate Bond List of Nasdaq Stockholm.
ABG Sundal Collier AB and Pareto Securities AB acted as joint bookrunners in the transaction and Gernandt & Danielsson acted as legal counsel.