Scandinavian Tobacco Group A/S Announces EUR 300 Million Notes
Scandinavian Tobacco Group A/S is excited to share that it has successfully priced a new issuance of senior unsecured notes amounting to EUR 300 million. These notes feature a coupon rate of 4.875% and are scheduled to mature in September 2029.
Notes Issuance Details
The new notes are anticipated to be issued on 12 September and will be available for trading on the regulated market of Euronext Dublin. This strategic initiative enables the company to raise capital, which will be directed towards a variety of general corporate purposes, including the refinancing of existing debt obligations.
Credit Rating Information
To support this issuance, Moody’s Investor Services has assigned a Baa3 rating to the bonds, which is consistent with the current rating for Scandinavian Tobacco Group A/S. This positive rating underscores the company’s stable economic position and its dedication to maintaining robust financial practices.
Joint Bookrunners Involved
A reputable group of banks served as joint bookrunners for this transaction, including Citigroup Global Markets Europe AG, Danske Bank A/S, Jyske Bank A/S, and Nordea Bank Abp. Each of these institutions played a vital role in executing this bond offering, reflecting their confidence in the company’s growth potential.
Looking Ahead
This bond issuance represents an important milestone for Scandinavian Tobacco Group A/S as it seeks to improve its financial flexibility. By refinancing its existing debts, the company aims to enhance its capital structure, which will facilitate greater operational efficiency and better position itself for future growth in the market.
Contact Details
For any further inquiries, please contact Torben Sand, the Director of IR & Communication, at +45 5084 7222 or via email at torben.sand@st-group.com.
Frequently Asked Questions
What is Scandinavian Tobacco Group A/S?
Scandinavian Tobacco Group A/S is a prominent international tobacco company that specializes in the production of cigars and pipe tobacco.
What are the terms of the newly issued notes?
The notes have a total principal amount of EUR 300 million, a coupon rate of 4.875%, and are set to mature in September 2029.
Where will the bond be listed?
The bond will be listed on the regulated market of Euronext Dublin.
Why did Scandinavian Tobacco Group A/S issue these notes?
The funds raised from this issuance will be allocated for various corporate purposes, particularly to refinance existing debt.
Who were involved in the issuance process?
Citigroup Global Markets Europe AG, Danske Bank A/S, Jyske Bank A/S, and Nordea Bank Abp acted as joint bookrunners for the transaction.
