Storskogen contemplates issuance of senior unsecured bonds and to redeem its outstanding 2021/2025 bonds
Storskogen Group AB (publ) (“Storskogen”) has mandated banks to arrange investor meetings to explore the possibility of issuing SEK denominated senior unsecured bonds with an expected volume of SEK 1,000 million, and announces a conditional notice of early redemption of outstanding bonds due in 2025.
Storskogen has mandated Danske Bank, DNB Carnegie, Nordea, SEB and SB1 Markets to arrange a series of fixed income investor meetings starting on 22 September 2025, to explore the possibility of issuing senior unsecured bonds with a floating interest rate and a 4.5-year tenor (the “New Bonds”). A capital markets transaction with an expected volume of SEK 1,000 million within a framework of SEK 2,000 million will follow, subject to market conditions. The proceeds from the New Bonds will be used to redeem the 2025 Bonds (as defined below) and for general corporate purposes.
In conjunction with the contemplated new issue, Storskogen has today instructed the agent under Storskogen’s existing SEK 3,000 million bonds due 2025 with ISIN SE0017084650 (the “2025 Bonds”), Nordic Trustee & Agency AB (publ) (the “Agent”), to send a conditional notice of early redemption of the 2025 Bonds (the “Notice”) to the holders of the 2025 Bonds. Storskogen holds 2025 Bonds in a nominal amount of SEK 2,157 million as of the date hereof, whereof the remaining SEK 843 million are held by external investors.
In accordance with the Notice, Storskogen will, conditional upon a successful issue of the New Bonds, redeem all 2025 Bonds in accordance with the terms and conditions of the 2025 Bonds. The 2025 Bonds will be redeemed at a price of 100 percent of the nominal amount, including accrued but unpaid interest, up until (and including) 16 October 2025.
The redemption will occur on 16 October 2025 and the record date for the early redemption will be 9 October 2025. The Notice will be available on the websites of Storskogen and the Agent.
The Notice is available on Storskogen’s website, via the following link: https://www.storskogen.com/investors/financing/
Danske Bank, Nordea and SB1 Markets act as global coordinators in respect of the issuance of the New Bonds. In addition, Danske Bank, Nordea and SB1 Markets together with DNB Carnegie and SEB act as joint bookrunners in respect of the issuance of the New Bonds.
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