Scandinavian Biogas issues subsequent SEK 30 million senior secured bonds
Scandinavian Biogas Fuels International AB has placed a subsequent issue of senior secured bonds in the amount of SEK 30 million under the company’s outstanding bond loan with ISIN SE0007784111 and within a total frame amount of SEK 300 million. Total outstanding amount after the subsequent bond issue will be SEK 230 million. The bonds will bear a floating rate coupon of 3 months Stibor + 9.75 per cent p.a. and were placed at 100.5 per cent of par. The bonds will be listed on the corporate bond list on Nasdaq Stockholm.
The proceeds from the bond issue will be used to finance ongoing investments in the Biokraft project in Skogn, Norway, as well as to amortise on debt.
The Biokraft project is deemed to have further financial requirements of NOK 55 million, which will be financed by Scandinavian Biogas to 50 per cent (pro rata of ownership share) and the remainder will mainly be financed by TrønderEnergi, the second largest shareholder.
Pareto Securities acted as financial advisor in the transaction.
For further information, please contact:
CEO Scandinavian Biogas
+46 (0) 70-597 99 38
The company in brief:
Scandinavian Biogas is today one of the largest private producers of biogas as a vehicle fuel. The Company also operates a manufacturing plant for pre-treatment of food waste and industrial organic waste, as well as a plant for the production of raw biogas in South Korea.
This information is information that Scandinavian Biogas Fuels International 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 15 June 2017 at 12.00 CET.