ABG Sundal Collier acted as joint manager and bookrunner in connection with the NOK 1,350 million bond issue by GLX Holding AS (Glamox)

GLX Holding AS, an entity owned 100% by Triton Partners and the management, will acquire a 75.16% ownership share in Glamox AS, for an equity consideration of NOK 2,794 million. The proceeds from the bond issue will, in combination with NOK 1,599 million in equity from Triton Fund IV, be used to partly finance the acquisition price, transaction costs and the first year of interest payments.
The bond will provide Triton with a very attractive HoldCo financing, with structural features giving flexibility to incur additional interest bearing debt (both with and without incurrence testing), have 6 year maturity and be callable at par the last year before maturity. The bond was priced at 3M NIBOR + 5.25%.