PARETO ADVISES JOTUL HOLDINGS ON THE SUCCESSFUL PLACEMENT OF A NOK 250 MILLION FULLY UNDERWRITTEN SENIOR SECURED BOND
Pareto Securities has advised Jotul Holdings S.à r.l., a special purpose vehicle established by funds controlled by OpenGate Capital Management, LLC, on placing a 4-year NOK 250 million senior secured bond (the “Bonds”). The proceeds from the transaction will be used to help finance the acquisition of Jøtul A/S, a leading manufacturer of residential stoves and fireplaces, from Ratos AB. The Bonds, maturing in January 2022, will bear a floating rate coupon of 3 month NIBOR + 7.00 per cent, with interest paid quarterly. The Bonds will be listed on a regulated market within 12 months of the