Zengun Group AB (publ) issues senior secured sustainability-linked bonds, announces the results of the tender offer and gives notice of early redemption of outstanding bonds

Zengun Group AB (publ) (“Zengun” or the “Company”) has successfully issued new senior secured sustainability-linked bonds in an initial amount of SEK 400 million (the “New Bonds”) and announces the results of the tender offer (the “Tender Offer”) to the holders of Zengun’s outstanding senior secured bonds with maturity on 19 October 2024 and with ISIN SE0014991220 (the “Outstanding Bonds”). The issue of New Bonds attracted strong demand from Nordic institutional investors and was significantly oversubscribed.

The Tender Offer expired on 22 January 2024 as previously announced. The Tender Offer has been accepted by holders of Outstanding Bonds representing a total nominal amount of SEK 222.5 million. The Company will complete the Tender Offer at the previously communicated price of 101.750 per cent. of the nominal amount together with any accrued and unpaid interest and accepts all validly tendered Outstanding Bonds for purchase. Settlement for the Tender Offer is expected to occur on or around 5 February 2023. The Tender Offer was made on the terms and subject to the conditions as set out in a tender information document dated 17 January 2024 (the “Tender Information Document”). Zengun’s repurchase of the validly tendered Outstanding Bonds under the Tender Offer is conditional upon the Company receiving the proceeds from the issue of the New Bonds.

The New Bonds were issued under a total framework of SEK 600 million, carry a floating interest rate of 3m Stibor + 6.35% and will mature in February 2028. Zengun intends to apply for admission to trading of the New Bonds on the sustainable bond list of Nasdaq Stockholm.

Zengun further announces that the Company exercises its right to make an early redemption of the Outstanding Bonds not being tendered in the Tender Offer, in accordance with the terms and conditions of the Outstanding Bonds (the “Early Redemption”). The Early Redemption is conditional upon the successful settlement of the New Bonds as well as disbursement of the net proceeds from the issue of the New Bonds in order to redeem the Outstanding Bonds in full. The Outstanding Bonds not being tendered in the Tender Offer will be redeemed at a price equal to 101.750 per cent. of the nominal amount together with any accrued and unpaid interest (the “Redemption Price”). The Redemption Price will be paid to each person who is registered as owner of Outstanding Bonds in the debt register maintained by Euroclear Sweden at the end of business on 9 February 2024. In connection with the Early Redemption, the Outstanding Bonds will be delisted from the corporate bond list of Nasdaq Stockholm.

The Tender Information Document and the notice of Early Redemption are available on Zengun’s website, via the following link: https://zengun.se/sv/bond24/

Carnegie Investment Bank AB (publ) has acted as ‘Global Coordinator’ and ‘Joint Bookrunner’ and Nordea Bank Abp as ‘Joint Bookrunner’ in respect of the issuance of the New Bonds and dealer managers in connection with the Tender Offer. Advokatfirman Vinge KB acts as legal advisor to the Company and Roschier Advokatbyrå AB acts as legal advisor to the joint bookrunners and dealer managers.

For more information, please contact:
Mick Salonen, President and CEO, +46 (0) 70 569 66 73
Oskar Björklund, CFO, +46 (0) 79 072 84 57

This information is information that Zengun Group AB (publ) 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, on 22 January 2024 18.15 CET.

Driving projects drives Zengun. We operate in Stockholm and Mälardalen, in close collaboration with customers and always with the project and people in focus. We help property owners improve their property portfolios in each project by offering know-how and skills as a collaboration and sustainability partner throughout the entire lifespan of the project. We build commercial properties, with a mix of select public-sector properties and residential projects. We take the long term into consideration for our employees, customers and surroundings, and are constantly developing to make each project a reference project. In 2023, Zengun had sales of approximately SEK 2.8 billion and 150 employees. #zengunbyggerstaden