Troax Group AB completes tap issue and sale of owned bonds of in total EUR 19.7 million
Press release, Hillerstorp 15 December 2016, 15.00 CET
Troax Group AB completes a tap issue in the amount of EUR 17 million under its outstanding bond loan (ISIN: SE0005799194) and completes a sale of bonds held by the company in the amount of EUR 2.7 million. The proceeds will be used to partly finance the acquisition of Folding Guard.
The tap issue and the sale have been placed at a price of 104.75 per cent. of the nominal amount, which corresponds to an annual interest of 1.83 per cent. up until the first call date of the bond loan. After the tap issue, the total outstanding amount of the company’s bond loan will amount to EUR 77 million. The bond loan is listed on Nasdaq Stockholm and the company will apply for listing of the new bonds on Nasdaq Stockholm. The settlement date of the tap issue is expected to be 21 December 2016.
“We are happy to see the large investor interest for this tap issue which we complete at a sizeable premium to the nominal amount. Through the tap issue, we secure attractive financing to complete the acquisition of Folding Guard”, says Thomas Widstrand CEO Troax Group AB.
Carnegie Investment Bank has been engaged as financial advisor and Gernandt & Danielsson as legal advisor in conjunction with the tap issue.
Hillerstorp 15 December 2016
Troax Group AB (publ)
Thomas Widstrand
CEO
This information is information that Troax Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.00 CET on 15 December 2016.
For additional information contact Thomas Widstrand, CEO.
Thomas Widstrand
President and CEO
Troax Group AB
Box 89
330 33 Hillerstorp
Sweden
Tel 46 (0)370-82831
thomas.widstrand@troax.com
About Troax
Troax is the leading global supplier of indoor perimeter protection (“metal-based mesh panel solutions”) for the market segments: Machine guarding, Warehouse partitioning and Property Protection. Troax develops high quality and innovative safety solutions to protect people, property and processes.
Troax Group AB (publ), Reg. No. 556916-4030, has a global organisation with an unparalleled sales force and efficient logistics setup, enabling local presence and short delivery times in 33 countries.
In 2015 Troax net sales amounted to 103 MEUR and the number of employees amounted to 440 persons. The Company’s head office is located in Hillerstorp, Sweden.
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