ABG Sundal Collier acted as joint bookrunner to CTS Group, a portfolio company of Norvestor, in connection with their inaugural SEK 1,300m bond issue

Circular Tire Service Europe Holding AB (publ) (“CTS Group” or “CTS”), is a leading brand independent tire service platform in the Nordics and Poland offering a circular service to commercial vehicle operators. CTS, a portfolio company of Norvestor, has successfully issued its inaugural SEK 1,300 million senior secured bond with a tenor of 5 years. Net proceeds from the bond issue will be used to refinance existing debt, finance add-on acquisitions, and general corporate purposes.
The bond issue received exceptional demand from high quality institutional investors and the transaction was substantially oversubscribed. The senior secured bonds will have a coupon of 3m STIBOR + 5.25% p.a. and will be listed on Nasdaq Stockholm within 12 months.