FairWind successfully places EUR 75 million new senior secured sustainability-linked bonds
Force BidCo A/S (“FairWind” or the “Company”) has successfully placed new senior secured sustainability-linked floating rate bonds (ISIN SE0024321491) in the amount of EUR 75 million under a framework of EUR 150 million (the “Bonds” or the “Bond Issue”). The Bonds will have a 4-year tenor and carry a floating rate coupon of 3-months EURIBOR plus 7.5 per cent. per annum.
The proceeds from the Bond Issue will be used to fully redeem the Company’s outstanding bonds 2021/2026 with ISIN SE0016275820 (the “Existing Bonds”), repay other existing debt within the Group, pay transaction costs, as well as for general corporate purposes of the Company (including investments and future acquisitions).
Stewart Mitchell, CEO at FairWind, said: “It is a very difficult market at the moment so we are extremely pleased to have achieved this refinance. We have a robust growth strategy, securing these Bonds will support our expansion into new markets and drive our mergers and acquisitions ambitions.”
In accordance with previously announced information in the press release published on 26 March 2025, the Existing Bonds will be fully redeemed on 23 April 2025 at a redemption price of 100.9375 per cent. of their nominal amount, together with accrued but unpaid interest up to (and including) the redemption date. The redemption remains conditional upon the successful issuance of the Bonds on or before the record date for the redemption, 14 April 2025, unless such condition is waived by the Company at its sole discretion. Settlement for the Bond Issue is expected to occur on 10 April 2025. Once settlement has occurred, the Company will issue a further press release confirming fulfilment of the condition and provide final details regarding the redemption process.
The Company intends to apply for admission to trading of the Bonds on the sustainable bond list of Nasdaq Stockholm and the Nasdaq Transfer Market.
ABG Sundal Collier AB and Arctic Securities AS, filial Sverige act as joint bookrunners and managers and Gernandt & Danielsson Advokatbyrå KB acts as legal counsel to the joint bookrunners and Advokatfirman Cederquist KB acts as legal counsel to the Company in connection with the Bond Issue.
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
