Securitas issues a 4-year MEUR 600 Eurobond

Rhea-AI Summary

Securitas has successfully closed a 4-year MEUR 600 bond in the Eurobond market on April 4, 2023. The bond was oversubscribed more than three times, enabling a coupon rate of 4.25 percent with a margin of 120 basis points. Proceeds from this issuance will primarily be used to refinance the remaining bridge facility linked to the acquisition of STANLEY Security, which was finalized on July 22, 2022. Post-issuance, approximately BSEK 1.7 remains on the bridge facility.

Positive

• The bond issuance was oversubscribed more than three times, indicating strong investor demand.
• Coupon set at 4.25 percent, reflecting favorable borrowing conditions for Securitas.
• Refinancing of bridge facility improves Securitas' financial stability post-acquisition.

Negative

• None.

STOCKHOLM, April 4, 2023 /PRNewswire/ -- Securitas has today successfully closed a 4-year MEUR 600 bond in the Eurobond market. The bond was oversubscribed more than three times and allowed the coupon to be set at 4.25 percent including a margin of 120 basis points.

The proceeds will be used to refinance almost the entirety of the remaining bridge facility related to the acquisition of STANLEY Security which was closed on July 22, 2022. After the bond issuance, the remaining amount of the bridge facility is approximately BSEK 1.7. 

The joint lead managers were BBVA, CIC, Citi, Commerzbank, Danske Bank, ING, SEB and UniCredit. 

Further information:

Investors: Micaela Sjökvist, Vice President, Investor Relations,

+46 76 116 7443, micaela.sjokvist@securitas.com

The following files are available for download:

https://mb.cision.com/Main/1062/3746651/1965547.pdf

Eurobond ENG 230404

View original content:https://www.prnewswire.com/news-releases/securitas-issues-a-4-year-meur-600-eurobond-301789366.html

SOURCE Securitas

FAQ

What was the amount of the bond issued by Securitas?

Securitas issued a 4-year MEUR 600 bond.

When was the bond closed?

The bond was successfully closed on April 4, 2023.

What will the proceeds from the bond be used for?

The proceeds will primarily refinance the remaining bridge facility from the acquisition of STANLEY Security.

What was the coupon rate of the bond?

The coupon rate of the bond was set at 4.25 percent.

How much remains on the bridge facility after the bond issuance?

Approximately BSEK 1.7 remains on the bridge facility.