Nortal issues bonds for €50 million to strengthen expansion efforts in the Americas and Europe

The bond proceeds will be used to refinance the existing bond and continue to accelerate growth through acquisitions in North America, the UK and the DACH region. “In the US, we are strategically focusing on acquisition opportunities on the East coast to complement our existing presence from the Pacific Northwest, which has served as the base for our US operations,” said Alamäe.

In Canada and the UK, the company’s focus is on accelerating the growth of greenfields established in 2022 and 2023, respectively. “Within this short time, we have seen significant interest and continued opportunities for our core offering: building the most advanced digital services for governments and businesses,” he added.

Nortal is also focusing on expanding its footprint in the Americas to support the company’s North American customers in the same time zone. “Accessing the highly skilled and technically strong Latin American talent pool will enable us to provide a follow the sun delivery and support model for our customers in North America, offering uninterrupted customer delivery and service across multiple time zones from our delivery centres in Europe and the Americas,” said Alamäe.

The bond was mainly subscribed by renowned institutional investors from the Nordics and Continental Europe.

For the bond issue, Pareto Securities acted as global coordinator and bookrunner, and the bonds agent is Nordic Trustee Oy.