BICO Group AB (publ) has successfully issued senior secured bonds
BICO Group AB (publ) (“BICO” or the “Company”) has successfully issued senior secured bonds in the total nominal of EUR 40 million under a framework amount of EUR 60 million (the “Bonds”). The Bonds have a tenor of four years and carry a floating interest rate of three-month EURIBOR plus a margin of 5.90 per cent. The Bonds were issued at 96.81 per cent of par. The net proceeds from the bond issue will be used for general corporate purposes. The Bonds were placed with a consortium of Swedish institutional investors.
Furthermore, BICO announces its intention to repay its existing convertible bonds, of which SEK 1,008m is currently outstanding, at their final maturity on March 19, 2026.
“The past years, we have taken several actions to strengthen our balance sheet and liquidity. We are already in a position to repay our existing convertible bonds maturing in March 2026. The new capital raise will further enhance our financial flexibility and provide a meaningful operational buffer. This puts us in a position to support further growth and capture a market recovery, while allowing us to navigate ongoing macroeconomic uncertainty. The transaction also serves as a clear testament to the capital markets’ continued confidence in BICO.” says Maria Forss, President and CEO of BICO.
DNB Carnegie acted as Sole Bookrunner in connection with the issuance of the Bonds. Advokatfirman Cederquist acted as legal advisor to BICO and Roschier Advokatbyrå as legal advisor to DNB Carnegie.