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24Storage

24Storage

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24Storage AB (publ) issues senior unsecured bonds of SEK 400 million

21:30 / 28 September 2020 24Storage Press release

24Storage AB (publ) (the "Company") has successfully issued senior unsecured bonds in an amount of SEK 400,000,000 under a framework of up to SEK 800,000,000. The new bonds are due in October 2023 and carries a floating interest rate of STIBOR 3m + 7.50 per cent. The Company intends to list the bonds on Nasdaq Stockholm.

The proceeds from the bond issue will be used to (i) refinance existing debt, (ii) finance general corporate purposes of the group (including investments and acquisitions) and (iii) finance transaction costs.
 
Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) acted as joint arrangers and bookrunners in connection with the bond issue.
 
The Company's CEO, Fredrik Sandelin, comments: "The bond issue was met with great interest from investors and was oversubscribed. This new form of financing is a natural step for us after the IPO in December last year. It will give us access to more capital, greater flexibility and over time, most likely, cheaper financing."

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MFN

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