News January 26th, 2024

by Neringa Narbutiene

Nortal places EUR 50m senior secured bonds, calls to redeem outstanding bonds

Nortal AS (“Nortal“) hereby announces that it has successfully issued a senior secured floating-rate bond issue in an initial amount of EUR 50,000,000 (the “Bonds“) within a framework of EUR 100,000,000. The Bonds have a tenor of five years and a floating interest rate, payable quarterly.

The net proceeds from the Bonds shall be used, among other things, to finance the repayment of Nortal’s existing outstanding EUR 50,000,000 senior secured bonds with ISIN FI4000383930 (the “Existing Bonds“), including accrued but unpaid interest.

Pareto Securities acted as the sole bookrunner in connection with the issuance of the Bonds and the bonds agent will be Nordic Trustee Oy.

Nortal further announces that it will redeem the Existing Bonds in advance and in accordance with Clause 9.3 (Voluntary total redemption (call option)) of the terms and conditions of the Existing Bonds. The redemption is subject to the satisfaction of certain conditions.

The redemption date will be 16 February 2024 and the redemption amount for each Existing Bonds shall be the applicable call option amount (100 per cent of the Nominal Amount), plus accrued but unpaid interest. The redemption amount will be paid to the bondholders holding Existing Bonds on the relevant record time (being 15 February 2024).

Nortal’s obligation to redeem the Existing Bonds on the redemption date is conditional upon the successful issue prior to the applicable record date of the Bonds and Nortal fulfilling the conditions precedent for disbursement of the net proceeds from the issue of the Bonds, which are, among other things, to be applied towards financing the redemption of the Existing Bonds (the “Financing Condition“).

A separate announcement will follow to confirm whether the Financing Condition has been fulfilled.

cropped_Neringa Narbutiene, CFO

More information

Neringa Narbutiené, CFO

+37068021366

neringa.narbutiene@nortal.com

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