Nobina completes repayment of all outstanding bonds
In accordance with a previous press release, and in line with Nobina’s dividend policy, Nobina AB (publ) completed the repayment of Nobina Europe AB’s (publ) outstanding bonds (ISIN SE0005797578) on August 11.
On June 3, Nobina announced its intentions to, following the completion of its initial public offering, repay the outstanding bonds in full by exercising Nobina Europe’s early redemption option. Following the repayment, Nobina’s liabilities declined by SEK 550 million, and the full dividend capacity in accordance with the dividend policy may be applied going forward.
"This is an important step for the company. We are no longer restricted by the bonds originating from the early 2000s and our funding primarily relates to buses and working capital, "says Nobina's CEO Ragnar Norbäck.
In June, the Standard & Poor’s Rating Agency raised Nobina’s credit rating from B to BB- with a stable outlook. The repayment of the aforementioned bonds was stated as one reason for the raise.
Nobina discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08:00 a.m. CET on August 12, 2015.
For more information, please contact:
Stina Thorman, Acting Head of Investor Relations, Nobina
Telephone: +46 8 410 650 71
E-mail: stina.thorman@nobina.com
Nobina is the largest and most experienced public bus transport service provider in the Nordic region. The Company’s expertise in prospecting, tendering and active management of public bus transport contracts in combination with long-term delivery quality makes Nobina an industry leader in terms of profitability, development and initiatives that promote a healthier industry. Every day, Nobina ensures that more than one million people arrive at work, school or other activities by delivering contracted public bus transport services in Sweden, Norway, Finland and Denmark. In addition, Nobina offers express bus services under the Swebus brand in the Swedish market. The Company has approximately 7,600 full-time equivalent employees and is headquartered in Stockholm. For more information, visit: www.nobina.com.
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