European Lingerie Group AS announces the settlement of a 3-year EUR 40 million senior secured bond under a framework of up to EUR 60 million, placed earlier this month.
The Bonds, maturing in February 2021, will bear a floating rate coupon of 3 month Euribor + 7.75 per cent, with interest paid quarterly. The Company has undertaken to list the Bonds on Nasdaq Stockholm within 12 months of the issue date.
The proceeds from the transaction will be used to refinance existing interest bearing bank and bond debt and for general corporate purposes including capital expenditures.
Terms and Conditions of the bond issue can be found here.