Serneke announces issue of senior unsecured bonds and declares early redemption of existing bonds unconditional
Serneke Group AB (publ) (“Serneke” or the “Company”) today announces that the Company has resolved to issue new senior unsecured bonds, in the total amount of SEK 700 million under a framework of 1 billion, due 2021. The Company hereby announces that the previously set condition for early redemption of existing bonds is declared fulfilled and that redemption will occur as previously announced.
The bond issue was oversubscribed after receiving strong interest among a number of top tier institutions and credit funds primarily in the Nordics. Serneke will use the net proceeds to redeem all outstanding bonds under its existing bond loan in the amount of SEK 300 million due 2019 (ISIN: SE0008992184) and for general corporate purposes.
The new bond loan carries a floating rate coupon of 3 month STIBOR + 5.25 percent and matures in June 2021. Serneke intends to apply for a listing of the new bond loan on Nasdaq Stockholm.
As stated in the Company’s press release of 18 May 2018, the Company has given conditional notice of early redemption in full of its existing bond loan. The decision to carry out the new bond issue means that the previously set condition is declared fulfilled and that early redemption will take place as previously announced. In connection with the redemption, the bonds will be delisted from Nasdaq Stockholm.
Carnegie and DNB acted as Joint Bookrunners in connection with the transaction and Gernandt & Danielsson acted as legal advisor.
For more information, please contact:
Johan Live, Press Officer Serneke Group
Tel: +46 768 68 11 37
This information is such that Serneke is required to disclose under the EU Market Abuse Regulation. The information was submitted under the auspices of the contact person stated above, for publication on 25 May 2018 at 16:15 CET.
Serneke is a rapidly growing corporate group active in construction, civil engineering, project development and property management. The Group was founded in 2002 and today has income of approximately SEK 6 billion and has over 1,000 employees. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industrial facilities, public buildings, roads and civil engineering projects, and other infrastructure. The Company’s customers are public and commercial clients, and operations are focused on the three metropolitan regions in Sweden, Gothenburg (Region West), Stockholm (Region East) and Malmö (Region South). Serneke’s headquarters are located in Gothenburg and the Company also has offices in Stockholm, Malmö, Alingsås, Borås, Halmstad, Helsingborg, Jönköping, Skövde, Strömstad, Trollhättan, Uppsala, Varberg and Växjö. The Company’s Series B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.
More information about Serneke Group AB can be found at www.serneke.group
- 3/12/2021 Serneke evaluates existing bond financing
Serneke reinforces the Karlatornet organization
With Balder having become the new co-owner of the Karlatornet tower in mid-December last year, the c...;
Serneke to renovate Botanhuset in Stockholm
Serneke has been commissioned to renovate the 100-year-old Botanhuset at the Swedish Museum of Natur...;
Serneke sells development rights in Karlastaden to Tosito for approximately SEK 200 million
Serneke sells approximately 15,000 square meters of building rights in Karlastaden to property compa...;
Clarification regarding Karlatornet and the sale of building rights to Balder
As a consequence of Thursday’s press release regarding transactions with Balder and the questions re...;
SernekeSerneke commences work to redevelop the University Hospital campus in Örebro startar utbyggnaden av Campus vid Universitetssjukhuset i Örebro
Serneke has signed a turnkey contract with Örebro University and Region Örebro County for the redeve...;
Serneke Group AB publishes its annual report for the 2020 financial year
The Serneke 2020 Annual report is available as of today at the Group's website, www.serneke.se....
Notice to attend the Annual General Meeting of Serneke Group AB (publ)
The shareholders of Serneke Group AB (publ) ("Serneke") or ("the Company"), corporate identity numbe...
Serneke Group's Nomination Committee proposes that two new Board members be elected
Ahead of the Annual General Meeting on May 6, 2021, the Nomination Committee of Serneke Group AB (pu...