Securitas successfully concludes MEUR 300 Schuldschein funding

Rhea-AI Summary

Securitas has successfully concluded a Schuldschein loan transaction, raising MEUR 300 in the international market. This marks the company's first venture into the Schuldschein market, establishing a new source of long-term funding. The issue was oversubscribed by more than three times the launch amount, with the majority of the funding structured for five years in both Euro and US dollar tranches. The proceeds will be utilized to refinance part of a MUSD 1,146 bridge facility linked to the acquisition of STANLEY Security, finalized on July 22, 2022.

Positive

• Raised MEUR 300, establishing a new source of long-term funding.
• Transaction was oversubscribed by over three times, showcasing high investor demand.
• Proceeds will refinance part of a significant acquisition-related bridge facility.

Negative

• None.

Securitas has today concluded a successful Schuldschein loan transaction, raising MEUR 300 equivalent in the international Schuldschein market. 

STOCKHOLM, March 2, 2023 /PRNewswire/ -- By entering into the Schuldschein market for the first time Securitas establishes a new source of long-term funding for the Group. The issue was oversubscribed by more than triple the launch amount. The majority of the funding is for five years and consists of Euro and US dollar tranches. The proceeds will be used to refinance part of the remaining MUSD 1 146 bridge facility related to the acquisition of STANLEY Security which was closed on July 22, 2022. 

The joint arrangers were Commerzbank, ING, SEB and UniCredit. 

Further information:

Investors: Micaela Sjökvist, Vice President, Investor Relations;
+46 76 116 7443, micaela.sjokvist@securitas.com

The following files are available for download:

https://mb.cision.com/Main/1062/3726841/1888563.pdf

Schhuldschein eng 220302 Final

 

View original content:https://www.prnewswire.com/news-releases/securitas-successfully-concludes-meur-300-schuldschein-funding-301761232.html

SOURCE Securitas

FAQ

What was the amount raised by Securitas in the Schuldschein transaction?

Securitas raised MEUR 300 in the Schuldschein loan transaction.

What will the proceeds from the Schuldschein transaction be used for?

The proceeds will be used to refinance part of the MUSD 1,146 bridge facility related to the acquisition of STANLEY Security.

When was the acquisition of STANLEY Security completed?

The acquisition of STANLEY Security was completed on July 22, 2022.

How was the Schuldschein issue received by investors?

The Schuldschein issue was oversubscribed by more than three times the launch amount.

What currencies were involved in the Schuldschein transaction?

The Schuldschein transaction involved Euro and US dollar tranches.