ABAX Group AS – Successful Placement of 4-Year Senior Secured Bonds
Larvik (Norway), January 14, 2025 – ABAX Group AS (“ABAX” or the “Company”) announces today that it has successfully placed SEK 900 million of new senior secured bonds. The new bonds are due to mature in January 2029 and will pay a floating rate coupon corresponding to 3 month STIBOR + 4.75% per annum, payable quarterly in arrears.
The net proceeds from the bond issue shall be used to refinance the Company’s existing NOK 1,000m senior secured bonds with ISIN NO0010885312 (the “Existing Bonds”) and general corporate purposes.
A call notice for the Existing Bonds will follow in a separate press release within short.
DNB Markets acted as Global Coordinator and Joint Bookrunner and Carnegie AS acted as Joint Bookrunner in the bond issue. Advokatfirman Schjødt acted as legal counsel to the Company and Gernandt & Danielsson Advokatbyrå acted as legal counsel to the joint bookrunners.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation ("MAR") and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 of the Norwegian Securities Trading Act. This information was published by John Ole Moe, CFO of ABAX at 17.15 CET on the 14th of January 2025.
For further information please contact:
Emma Dyga, CEO, ABAX
Email: emma.dyga@abax.com
Phone: +46 73 439 06 52
John Ole Moe, CFO, ABAX
Email: john.moe@abax.com
Mobile: +47 95 26 87 01
About ABAX
ABAX is a leading European telematics IoT platform offering connected mobility solutions for vehicle tracking, tool tracking, and equipment control. Our mission is to provide mobility data insights that help customers optimize field operations, comply with regulations, and achieve significant savings. With over 500,000 tracked assets and 40,000 customers, ABAX delivers reliable and powerful solutions for businesses relying on field workforces, logistics, and heavy equipment. Our advanced platform transforms customer needs into actionable insights and automated reporting, driving efficiency and operational excellence.