Bong issues SEK 210 million senior secured notes and sends a conditional notice of redemption in relation to its outstanding notes
Bong AB (publ) (“Bong”) has successfully raised SEK 210 million in a senior secured notes with a tenor of 3 years (the “New Notes”). The net proceeds from the notes issue will be used to refinance the existing SEK 200 million senior secured notes with ISIN SE0007820444 with maturity in December 2018 (the “Existing Notes”) and for general corporate purposes. The New Notes will be issued on 19 October 2018.
Kai Steigleder, CEO of Bong, comments: “With the financing secured for another 3 years, Bong is positioned for a continued strong development going forward both within the envelope and the light packaging area”.
Bong intends to apply for listing of the New Notes on the corporate bond list of Nasdaq Stockholm.
Bong has today also sent a conditional notice of redemption (the “Redemption Notice”) to the holders of its Existing Notes. Bong intends to redeem the Existing Notes on 5 November 2018 (the “Redemption Date”). Bong’s obligation to redeem the Existing Notes on the Redemption Date is conditional upon Bong receiving, prior to the Redemption Date, the proceeds from the New Notes issue. For further details, see the Redemption Notice, which is available at Bong’s website: www.bong.com/en/investors/bonds-dec-2015
ABG Sundal Collier has acted as financial advisor and sole bookrunner to Bong in connection with the issuance of the New Notes. Mannheimer Swartling Advokatbyrå has acted as legal advisor.
Contact details:
Kai Steigleder, CEO
Telephone: +49 212 233 911 11
E-mail: kai.steigleder@bong.com
About Bong:
Bong is one of the leading providers of specialised light packaging and envelope products in Europe, offering solutions for distribution and packaging of information, advertising materials and lightweight goods. Important growth areas in the Group are packaging within retail and e-commerce and the envelope market within Eastern Europe. The Group has annual sales of approximately SEK 2.1 billion and about 1,400 employees in 14 countries. Bong has strong market positions in most of the important markets in Europe and the Group sees interesting possibilities for continued development. Bong is a public limited company and its shares are listed on Nasdaq Stockholm (Small Cap).
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