Qben Infra AB (publ) contemplates issuance of new senior unsecured bonds, informs of the intention of an upcoming conditional notice of early redemption by its subsidiary ININ Group AS
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Finans |
| Industri | Investeringar |
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW
Qben Infra AB (publ) (the “Company” or “Qben Infra”) has mandated DNB Markets, a part of DNB Bank ASA, Sweden Branch as Sole Bookrunner to arrange a series of credit investor meetings to explore the possibility of issuing three-year floating rate senior unsecured bonds with an expected initial amount of SEK 600m (the “New Bonds”). Subject to market conditions, a capital markets transaction may follow. The proceeds from the contemplated issue will be used to refinance the outstanding SEK 2023/2027 senior secured bonds issued by ININ Group AS (“ININ”) with ISIN NO0013105114 (the “Existing Bonds”), refinance certain bank debt within the Qben Infra group and for general corporate purposes including two pending add-on acquisitions.
As part of the transaction relating to the New Bonds, the Company’s direct subsidiary ININ intends to exercise its right to early redemption (call option) in accordance with the bond terms governing the Existing Bonds. The early redemption will inter alia be conditional upon the successful issuance and settlement of the New Bonds, including the full and due receipt of funds by the Company which will enable it to finance the redemption. The redemption date is expected to be 8 January 2025. ININ will publish a separate press release once the right of early redemption has been formally exercised.
Qben Infra has mandated DNB Markets, a part of DNB Bank ASA, Sweden Branch as sole bookrunner of the issuance of the New Bonds. Mannheimer Swartling acted as legal advisor to the sole bookrunner and Vinge acted as legal advisor to the Company.
Dealer Managers:
DNB Markets, a part of DNB Bank ASA, Sweden Branch: +47 23 26 80 99, bond.syndicate@dnb.no
For further information, please contact:
Øivind Horpestad, CEO, Qben Infra
+47 910 00 626