Ellos Group Nordic AB (publ) contemplates to issue new senior secured bonds and super senior secured bonds
Press release, Borås, 11 June 2024
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Ellos Group AB (publ) (the “Company”) announces that its subsidiary Ellos Group Nordic AB (publ) (the “Issuer”) has mandated ABG Sundal Collier AB as sole bookrunner to arrange fixed income investor meetings commencing on 11 June 2024 to explore the possibility of issuing new senior secured callable floating rate bonds in an amount of SEK 1,200,000,000 as well as new super senior secured callable floating rate bonds in an amount of SEK 300,000,000 (jointly, the “Bonds”), both of which will have an expected tenor of three years (the “Bond Issue”). A capital markets transaction may follow, subject to inter alia prevailing market conditions. The proceeds from the Bond Issue are contemplated to be used towards refinancing of the outstanding SEK 1,500,000,000 senior secured callable floating rate bonds with ISIN SE0012827996 and SEK 250,000,000 super senior secured callable fixed rate bonds with ISIN SE0021486917 issued by the Company (jointly, the “Existing Bonds”) (the “Refinancing”). Disbursement of the net proceeds of the Bond Issue is subject to a capital injection in cash to strengthen the balance sheet.
The Company is currently performing a strategic review in order to create the best possible conditions for the Company to take the next step in its operational and commercial development.
The Company is including a financial update for LTM April 2024 as part of the investor materials shared in connection with the fixed income investor meetings. Following April 2024, the group has a LTM net sales of SEK 3,352m and a Pre-IFRS Adjusted EBITDA of SEK 262m, representing a continued solid improvement in profitability margins of the group.
ABG Sundal Collier AB has been mandated to act as arranger and sole bookrunner in connection with the Bond Issue. Roschier Advokatbyrå AB acts as legal counsel to ABG Sundal Collier AB and Advokatfirman Cederquist KB acts as legal counsel to the Company and the Issuer in connection with the Bond Issue.
For more information: Johan Stigson, CFO, Telephone. +46 (0)33 16 08 05
This information is information that Ellos Group AB (publ) is legally obliged to disclose in accordance with the EU Market Abuse Regulation. Through the agency of the contact persons shown above, the information was released for publication on 11 June 2024 08.30 CEST.
ABOUT ELLOS GROUP
The Ellos Group, which includes the online stores Ellos, Jotex, Homeroom and payment brand Elpy, is a leading shopping destination for fashion and home furnishings in the Nordic region. Working closely with our millions of customers, we offer attractive and sustainable products for the women in mid-life, her family and home. We continuously develop our business through innovation, creativity, and sustainability, and always focusing on the customer. The Ellos Group, headquartered in Borås, and with operations in all Nordic countries and selected European markets, has around 550 employees and sales of around SEK 3.4 billion.