PARETO ADVISES PWT HOLDING A/S ON THE SUCCESSFUL PLACEMENT OF A DKK 275 MILLION SENIOR SECURED BOND

Pareto Securities AB has advised PWT Holding A/S (“PWT” or the “Company”), on placing a 5-year DKK 275 million senior secured bond (the “Bonds”). The proceeds from the transaction will be used to refinance in full the Company’s existing bond debt and for general corporate purposes.

The Bonds, maturing in October 2022, will bear a floating rate coupon of 3 month Cibor + 5.50 per cent, with interest paid quarterly. The Bonds will be listed on Nasdaq Stockholm within 60 days of the issue date.

The transaction was well received by the market, with participation primarily from Swedish and Norwegian institutional investors, coupled with strong demand from other Nordic and continental European accounts.

“The bond issue secures the Company’s financing for a foreseeable future, well suited to support the Owner’s and Management’s growth plans for the Company over the next few years. The flexible financing obtained through the bond will enable the Company to continue to develop in its core markets and capitalise on a number of positive market trends” says Ole Koch, CEO of PWT Holding A/S.    

Pareto Securities AB acted as Sole Bookrunner in connection with the bond issue.

For more information please contact Mats Carlsson, CEO, at +46 8 402 52 86 or Markus Wirenhammar, Head of Debt Capital Markets, +46 70-872 51 86

PWT is a leading Scandinavian menswear company, with both wholesale and retail. The Company owns and operates two menswear chains, Tøjeksperten and Wagner, with 202 stores in Denmark, Norway, Sweden and China, selling both internal and external brands. In addition, the Company’s wholesale arm sells the full brand portfolio to 1,100 retailers operating in more than 20 countries. More information is available at www.pwt-group.com 

Pareto Securities AB is part of the Pareto Securities group. Pareto Securities is an independent investment bank focused on the Nordic market. Pareto Securities offers Nordic and non-Nordic institutions, companies and private individuals investment services related to trading in stocks, derivatives and fixed income instruments, equity research and advisory services within corporate finance. The Pareto Securities group has a total of more than 400 employees, with its headquarters in Oslo and offices in Sweden (Stockholm and Malmö), Norway, Denmark, Finland, United Kingdom, France, USA, Canada, Singapore and Australia.