Carnegie Joint Bookrunner in successful SEK 700 million senior unsecured bond issue in Serneke

Serneke Group AB (”Serneke” or the ”Company”) recently announced that is has successfully completed a three year floating rate bond issue, following strong demand from a number of top tier institutions and credit funds primarily in the Nordics.

The price was set in the lower end of the range and the bond carries a floating rate coupon of Stibor 3m + 525bps (without Stibor floor) and has a total framework amount of SEK 1 billion – implying a ~140bps decrease in financing cost since the SEK 300 million bond issue in September 2016.

Serneke will use the net proceeds to redeem all outstanding bonds under the existing 2016/2019 bond loan in the amount of SEK 300 million (ISIN: SE0008992184) and for general corporate purposes.

Serneke is a rapidly growing corporate group active in construction, civil engineering, project development and property management. The Group was founded in 2002 and today has income of approximately SEK 6 billion and has over 1,000 employees. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industrial facilities, public buildings, roads and civil engineering projects, and other infrastructure. The Company’s customers are public and commercial clients, and operations are focused on the three metropolitan regions in Sweden, Gothenburg (Region West), Stockholm (Region East) and Malmö (Region South). Serneke’s headquarters are located in Gothenburg and the Company also has offices in Stockholm, Malmö, Alingsås, Borås, Halmstad, Helsingborg, Skövde, Strömstad, Trollhättan, Uppsala, Varberg and Växjö. The Company’s Series B shares (SRNKE) have been listed on Nasdaq Stockholm since November 2016.

Carnegie acted as Joint Bookrunner in connection with the bond issue.

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