ABG Sundal Collier acted as joint bookrunner to CTS Group, a portfolio company of Norvestor, in connection with their SEK 400 million tap 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 subsequent senior secured bonds of SEK 400 million within its existing bond framework of SEK 2,600 million. Net proceeds from the bond issue will be used towards financing future add-on acquisitions and general corporate purposes.
The tap issue received exceptional demand from high quality institutional investors enabling the transaction to price at 103.00%. Following the tap issue, CTS’s total outstanding bonds will amount to SEK 1,700 million.