Bong makes bond repurchase
Bong AB (publ) will make a repurchase of its own senior secured notes on the market. Bong has entered into purchase agreements with bondholders and the repurchase will be made on October 2nd to the nominal amount of SEK 30 million. In total, by the 2nd of October repurchases will have been made to the nominal amount of SEK 58 million. Thus, the nominal outstanding amount of the senior secured notes is SEK 52 million.
The repurchase is related to the company’s own bond loan with an outstanding nominal amount before the repurchase of 110 MSEK which Bong issued in October 2021 with a 3 year tenure at the interest rate of Stibor (3m) +10 %. The senior secured notes are listed on Nasdaq Stockholm’s Corporate Bonds List with ISIN: SE0016829642.
Bong is one of the leading providers of envelope products in Europe that also offers 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 1,000 employees in 13 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).
For further information, please contact Carsten Grimmer, CFO of Bong AB (publ). Tel (switchboard) +46 44-20 70 00.