Morris Law Advises Åhléns Group on SEK 500 Million Senior Secured Bond Issue

"Morris Law advised Åhléns Group on the issuance of SEK 500 million senior secured bonds under a SEK 1 billion framework. The bonds mature in 3.5 years and carry interest at STIBOR 3 months plus 5% p.a. Proceeds will refinance existing debt, cover transaction costs and support general corporate purposes."

Morris Law acted as legal advisor to Åhléns Group in connection with the company’s successful bond issuance. The transaction comprised the issuance of senior secured bonds in the amount of SEK 500 million under a framework of up to SEK 1 billion. The bonds have a tenure of three and a half years and carry interest at STIBOR 3 months plus 5 percent per annum. The proceeds from the bond issue will be used to partially refinance existing debt, cover transaction costs and for general corporate purposes. Åhléns’ CEO Ayad Al‑Saffar commented: “The strong interest in our bond issue demonstrates the market’s confidence in Åhléns. Åhléns, which is otherwise debt‑free and profitable, stands strong following a successful turnaround in a challenging market. Through this bond, we can repay our entire tax deferment and further strengthen our financial stability to continue delivering growth and increased profitability going forward.” The bond issue strengthens Åhléns’ financial position and enables continued growth and profitability. Morris Law represented Åhléns Group with a team composed by: Carl Friberg, Hedda Sahlin Ekberg and Karl Bondesson.

Morris Law Advises Åhléns Group on SEK 500 Million Senior Secured Bond Issue

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