Serneke announces issue of senior unsecured bonds and declares early redemption of existing bonds unconditional

Serneke Group AB (publ) (“Serneke” or the “Company”) today announces that the Company has resolved to issue new senior unsecured bonds, in the total amount of SEK 700 million under a framework of 1 billion, due 2021. The Company hereby announces that the previously set condition for early redemption of existing bonds is declared fulfilled and that redemption will occur as previously announced.

The bond issue was oversubscribed after receiving strong interest among a number of top tier institutions and credit funds primarily in the Nordics. Serneke will use the net proceeds to redeem all outstanding bonds under its existing bond loan in the amount of SEK 300 million due 2019 (ISIN: SE0008992184) and for general corporate purposes.

The new bond loan carries a floating rate coupon of 3 month STIBOR + 5.25 percent and matures in June 2021. Serneke intends to apply for a listing of the new bond loan on Nasdaq Stockholm.

As stated in the Company’s press release of 18 May 2018, the Company has given conditional notice of early redemption in full of its existing bond loan. The decision to carry out the new bond issue means that the previously set condition is declared fulfilled and that early redemption will take place as previously announced. In connection with the redemption, the bonds will be delisted from Nasdaq Stockholm.

Carnegie and DNB acted as Joint Bookrunners in connection with the transaction and Gernandt & Danielsson acted as legal advisor.


For more information, please contact:

Anders Düring, CFO Serneke Group
Tel: +46 70 888 7733
anders.during@serneke.se

Johan Live, Press Officer Serneke Group
Tel: +46 768 68 11 37
johan.live@serneke.se 


This information is such that Serneke is required to disclose under the EU Market Abuse Regulation. The information was submitted under the auspices of the contact person stated above, for publication on 25 May 2018 at 16:15 CET.

 

Serneke is a rapidly growing corporate group active in construction, civil engineering, project development and property management. The Group was founded in 2002 and today has income of approximately SEK 6 billion and has over 1,000 employees. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industrial facilities, public buildings, roads and civil engineering projects, and other infrastructure. The Company’s customers are public and commercial clients, and operations are focused on the three metropolitan regions in Sweden, Gothenburg (Region West), Stockholm (Region East) and Malmö (Region South). Serneke’s headquarters are located in Gothenburg and the Company also has offices in Stockholm, Malmö, Alingsås, Borås, Halmstad, Helsingborg, Jönköping, Skövde, Strömstad, Trollhättan, Uppsala, Varberg and Växjö. The Company’s Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.


More information about Serneke Group AB can be found at
www.serneke.group

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