HILLERSTORP, Sweden, Dec 15, 2016 /PRNewswire/ --
Troax Group AB completes a tap issue in the amount of EUR 17 million under its outstanding bond loan (ISIN: SE0005799194) and completes a sale of bonds held by the company in the amount of EUR 2.7 million. The proceeds will be used to partly finance the acquisition of Folding Guard.
The tap issue and the sale have been placed at a price of 104.75 per cent. of the nominal amount, which corresponds to an annual interest of 1.83 per cent. up until the first call date of the bond loan. After the tap issue, the total outstanding amount of the company's bond loan will amount to EUR 77 million. The bond loan is listed on Nasdaq Stockholm and the company will apply for listing of the new bonds on Nasdaq Stockholm. The settlement date of the tap issue is expected to be 21 December 2016.
"We are happy to see the large investor interest for this tap issue which we complete at a sizeable premium to the nominal amount. Through the tap issue, we secure attractive financing to complete the acquisition of Folding Guard", says Thomas Widstrand CEO Troax Group AB.
Carnegie Investment Bank has been engaged as financial advisor and Gernandt & Danielsson as legal advisor in conjunction with the tap issue.
Troax Group AB (publ)
This information is information that Troax Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.00 CET on 15 December 2016.
For additional information contact Thomas Widstrand, CEO.
President and CEO
Troax Group AB
330 33 Hillerstorp
Tel: 46 (0)370-82831
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SOURCE Troax Group AB