Pareto advises West Atlantic AB (publ) on their successful placement of a SEK 850 million four-year senior secured bond
Pareto Securities has advised West Atlantic AB (publ) (“West Atlantic” or the “Company”), a leading European provider of overnight air freight services, on their successful placement of a four-year SEK 850 million senior secured bond. The proceeds from the bond issue will be used to refinance the Company’s outstanding bond and to finance its expansion, including investments in new aircraft.
The bonds, maturing in December 2019, will bear a fixed interest rate of 6.50% (paid semi-annually). The Company undertakes to list the bonds on NASDAQ Stockholm within 60 days after the issue date.
The transaction was well received by the market and demand was strong from a wide universe of Nordic, UK and Continental European investors. In total, nearly 100 institutional and retail investors participated in the oversubscribed issue.
”Since first accessing the bond markets more than two years ago, West Atlantic has delivered on its business plan and grown steadily and profitably. The strong demand seen for a new West Atlantic bond clearly reflects the Company’s solid performance and illustrates the trust investors place in the business. Now, with a new long-term financing solution in place, the Company is well-positioned to continue its expansion, aimed at maintaining West Atlantic’s position as one of the leading dedicated air freight operators in Europe” says Gustaf Thureborn, CEO of West Atlantic.
For more information please contact Mats Carlsson, +46 8 402 52 86
About West Atlantic
West Atlantic Group is a European dedicated cargo airline specialised in mail and express freight. Building on its longstanding experience the Group can offer customers customised and efficient solutions for airfreight services, maintenance and airworthiness services and aircraft leasing. West Atlantic’s success as a cargo airline is based on the business concept: “meeting the demand for safe, efficient and profitable airfreight solutions by the means of a customised aircraft fleet”.
Pareto Securities is an independent full service investment bank with a leading position in the Nordic capital markets and a strong international presence within the energy sector. Pareto Securities AB offers Swedish and foreign institutions, companies and private individuals investment services related to trading in stocks, shares in SPV’s and fixed income instruments, wide coverage both within equity- and credit research. Furthermore, Pareto Securities corporate finance offers ECM, M&A and DCM services as well as arrangement and syndication of new investment projects, arrangement and syndication of sale and leaseback structures within real estate, infrastructure and shipping/offshore. Pareto Securities AB is part of the Pareto Securities group and is headquartered in Oslo, Norway, with more than 400 employees located in offices in Norway, Sweden, Denmark, Finland, United Kingdom, France, USA, Canada, Singapore, Australia and Brazil.