ABG Sundal Collier acted as financial advisor and joint bookrunner in connection with the NOK 250m senior secured bond issue by Fibo Group AS – a company owned by the private equity sponsor FSN Capital

Fibo Group AS has successfully issued an inaugural NOK 250m senior secured bond. The bonds have a tenor of three years and carry an interest rate of 3m Nibor + 7.75%. In connection with the refinancing, the company has entered into a non-recourse factoring agreement. Net proceeds from the financing will allow the company to refinance all existing debt and the factoring agreement will replace the existing revolving credit facility. Settlement is expected to be 2 April 2019 with final maturity on 2 April 2022.  
 
About Fibo Group AS: 
 
Fibo was established in 1952 in Norway and is the leading provider of high quality wet room wall panels, a more efficient substitute to traditional tiles with significant benefits both in terms of product cost and installation time. The company sells its product through builders merchants and Do-It-Yourself stores, in addition to direct sales to some corporate customers. Most of the revenues are generated in Norway (~68%) while the remaining is exported to the UK, Europe and Sweden. Fibo is owned by FSN Capital IV and was acquired as a carve-out from Byggma ASA in 2015.