Logent's Successful Note Issuance
SSCP Lager BidCo AB (publ), known as Logent, has recently made headlines with the successful issuance of subsequent senior secured floating rate notes totaling SEK 200,000,000. This funding is aimed at strengthening the company’s financial base as it continues its growth trajectory.
Details of the Note Issuance
The notes were issued under the Company’s existing notes loan for the period of 2023 to 2026, identified by ISIN SE0021021193. Notably, the demand exceeded expectations significantly, resulting in the notes being issued at 102% of the nominal amount. This level of interest underlines market confidence in Logent’s operations and future prospects.
Interest Rate and Maturity
The newly issued notes carry a floating interest rate pegged to 3m Stibor plus 625 basis points and are set to mature in December 2026. This structure ensures that Logent has a manageable debt service cost, enhancing its financial flexibility.
Plans for Trading
Logent plans to apply for the Subsequent Notes to be traded on the corporate bond list of Nasdaq Stockholm. This move indicates the Company's commitment to maintaining transparency while broadening its market footprint.
Utilization of Proceeds
The proceeds from this issuance are earmarked for several strategic purposes. Primarily, the funds will be used to facilitate the acquisition of HUB logistics Finland Oy, as well as finance associated transaction costs. Additionally, part of the proceeds will support general corporate expenses, thereby ensuring Logent maintains a strong market presence.
Current Financial Standing
With the new notes injected into its financial framework, Logent’s total outstanding nominal amount under the notes loan has reached SEK 1,050 million. This robust financial backing positions the company well for its future expansion initiatives.
Partnerships Enhancing Growth
Logent has engaged Nordea Bank Abp and Pareto Securities AS as the Joint Bookrunners for this issuance. Their expertise in the financial markets is expected to guide the company effectively through this phase, enhancing its operational capabilities.
Legal Support
Legal expertise has been provided by Snellman Advokatbyrå AB, alongside Gernandt & Danielsson Advokatbyrå KB, who are advising the Joint Bookrunners. This solid legal framework ensures compliance and protects the interests of all stakeholders involved.
About Logent Group
Logent is recognized as an independent logistics partner with a solid foundation across Northern Europe and extensive global networks. Since its inception in 2006, Logent has grown significantly, achieving an impressive turnover of approximately SEK 2.4 billion while employing around 2,800 individuals across its operations.
Comprehensive Service Offerings
The company specializes in a wide array of logistics services, including warehouse design and operations, transport management, customs services, port and terminal operations, as well as staffing and consulting services. This diverse service range ensures Logent can meet various customer needs effectively, driving continued growth.
Frequently Asked Questions
What was the amount of the new notes issued by Logent?
Logent has issued subsequent notes amounting to SEK 200 million.
What are the interest rates of the new notes?
The notes carry a floating interest rate of 3m Stibor + 625 basis points.
What are the intended uses of the proceeds from the issuance?
The proceeds will be used for acquiring HUB logistics Finland Oy, financing transaction costs, and general corporate purposes.
Who are the Joint Bookrunners for this issuance?
Nordea Bank Abp and Pareto Securities AS are the Joint Bookrunners for the issuance.
How many employees does Logent have?
Logent employs approximately 2,800 people across its operations in Northern Europe.
