Market News / Press Release
The Market Quotes Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.
Björn Borg issues five-year, SEK 200 million bond loanFriday, 30 March 2012
Björn Borg issues a five-year senior unsecured bond loan of SEK 200 million. The offer was fully subscribed after broad interest from both private individuals as well as institutional investors. The bonds have a coupon of three-month STIBOR plus 3,25% and mature in April 2017. Björn Borg will apply for a listing of the bonds on NASDAQ OMX Stockholm.
“The capital raised will lead to an increased financial flexibility and preparedness for the future development of Björn Borg and our growth ambitions within both current as well as future projects. At the same time, the proceeds from the bond loan provide us with increased capacity to maintain a high and stable dividend level until the annual additional consideration for the acquisition of the trademark Björn Borg terminates in 2016,” says Chairman of the Board Fredrik Lövstedt.
Carnegie Investment Bank has served as advisor and arranger in connection with the issue, and Advokatfirman Cederquist has been legal advisor.
Based on a press release
What do you think about this article and us? Please leave a comment!