SGL Group ApS considers issuance of new senior secured bonds, potential buy-backs and a related voluntary partial redemptions of its outstanding bonds
Company announcement from SGL Group ApS
19 March 2024
Company announcement no. 8
SGL Group ApS (formerly Skill BidCo ApS (the "Company") announces today (i) that it has mandated Pareto Securities AB as Sole Global Coordinator and Sole Bookrunner to consider an issuance of new senior secured bonds (the "Bond Issue") and (ii) an invitation to holders of its outstanding EUR 750,000,000 Senior Secured Callable Floating Rate Bonds (ISIN: NO0012826033) (the "Existing Bonds") to tender their Existing Bonds (the "Buy-Back"). Holders of Existing Bonds participating in the Bond Issue will be offered priority in the Buy-Back allocation, and vice versa. Holders of Existing Bonds interested in participating in the Buy-Back should contact Pareto Securities via the contact details below. The Company may also consider a voluntary amortisation of the Existing Bonds. The Bond Issue, the Buy-Back and a potential voluntary amortisation of the Existing Bonds are subject to, inter alia, market conditions.
In connection with the contemplated Bond Issue, the Company intends to raise cash to be used for (i) acquisitions, general corporate purposes and payment of transactions costs in an amount of approximately EUR 100,000,000, (ii) the Buy-Back, and (iii) voluntarily partially redeem Existing Bonds. The issue quantum and allocation of the proceeds from the Bond Issue between paragraphs (i)-(iii) may vary and are not determined. As an alternative to the Bond Issue, the Company may also consider conducting a Subsequent Bond Issue of the Existing Bonds.
The contemplated Bond Issue, the Buy-Back and the related transactions referred to above are part of the Company's proactive work relating to management of the Company's liquidity and indebtedness profile. The Company may, from time to time, seek to either raise additional indebtedness or to purchase all or a portion of its outstanding debt through cash purchases or debt exchanges, in open-market purchases, privately negotiated transactions or otherwise. The terms of any such transactions are solely within its discretion and will depend on prevailing market conditions, its liquidity requirements, contractual restrictions and other factors. The amounts involved may be material.
For further information about the Company, please contact:
Martin Gregersen, Head of Group Treasury or Simon Kusk, Head of Group Finance
investor@scangl.com | (+45) 32 48 00 00
For further information about the buy-back of existing bonds, please contact:
Pareto Securities in capacity of Sole Global Coordinator and Bookrunner:
Markus Wirenhammar, Head of Investment Banking
ProjectHermod@paretosec.com
This information is information that SGL Group ApS is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 07.45 CET on 19 March 2024.