FairWind considers issuance of new senior secured sustainability-linked bonds, gives conditional notice of early redemption of its outstanding 2021/2026 bonds, and provides a trading update

Correction: The press release that was submitted for publication on 26 March 2025, at 08:00 CET was summarised instead of providing the complete information, the complete information had instead been appended to the previous press release. This press release includes the complete information and is identical to the full version of the press release that was appended to the previous press release.

Force BidCo A/S (“FairWind” or the “Company”) announces that it has mandated ABG Sundal Collier AB and Arctic Securities AS, filial Sverige as joint bookrunners to arrange a series of fixed income investor meetings commencing on 26 March 2025 to explore the possibility of issuing new senior secured sustainability-linked floating rate bonds with a 5-year tenor (the “New Bonds”). The proceeds from the New Bonds will be used to redeem FairWind’s Existing Bonds (as defined below) in full, repay certain other existing debt within the Group, pay transaction costs, and for general corporate purposes (including investments and future acquisitions). A capital markets transaction with an expected volume of EUR 90 million may follow, subject to market conditions.

FairWind also announces that the Company today will send a notice of conditional early redemption to all holders of its existing bond loan 2021/2026 with ISIN SE0016275820 (the “Existing Bonds”). All Existing Bonds will be redeemed early in accordance with the terms and conditions for the Existing Bonds, conditional upon a successful issue of the New Bonds (the “Condition”) (unless the Condition has been waived by the Company at its sole discretion). If the Condition is fulfilled or waived by the Company, the redemption date will be 23 April 2025 and the Existing Bonds will be redeemed at an amount equal to 100.9375 per cent. of the nominal amount plus accrued but unpaid interest. In connection therewith the Existing Bonds will be delisted from Nasdaq Stockholm and Frankfurt Stock Exchange Open Market.

In connection with the announcement of FairWind’s contemplated issuance of New Bonds and early redemption of the Existing Bonds, the Company is also releasing certain financial information for the twelve-month period ended 28 February 2025, which has been compiled by FairWind as part of the preparations for the intended issuance of the New Bonds. The financial information set out below has not been reviewed or verified by the Company’s auditor or any other financial advisor, and the final outcome as set out in the forthcoming interim report may differ from the financial information currently provided.

• LTM Revenue amounted to EUR 251.6 million.
• LTM PF Adjusted EBITDA amounted to EUR 21.8 million.
• Net debt amounted to EUR 89.1 million as of 28 February 2025.

ABG Sundal Collier AB and Arctic Securities AS, filial Sverige act as joint bookrunners and managers and Gernandt & Danielsson Advokatbyrå KB act as legal counsel to the joint bookrunners and Advokatfirman Cederquist KB act as legal counsel to the Company in connection with the issuance of the New Bonds.

This information is information that Force BidCo A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 26 March 2025, at 08:00 CET.

For further information:

Kathryn MacKenzie, Head of Marketing and Communications

kmackenzie@fairwind.com | +44 7549 690 023

About FairWind
FairWind A/S is a leading global provider of one-stop solutions for the installation and service of onshore and offshore wind turbines throughout the world. FairWind has worked in more than 40 countries and cooperates with over 2,200 technicians to manage customers’ projects globally.
You can read more about FairWind on www.fairwind.com