Axactor SE (“Axactor” or “the Company”) announced on Wednesday 9 December 2020 multiple steps to strengthen its financial platform, to improve shareholder returns and support further growth. As part of this plan, Axactor successfully completed a NOK 320 million private placement on Wednesday 9 December 2020. Subsequently, on Friday 11 December 2020, the Company successfully placed a new three year senior unsecured bond of EUR 200 million, and proposed an amended to its outstanding EUR 200 million bond issue to allow for early redemption. In addition, Axactor announced on Wednesday 9 December 2020 the acquisition of Geveran’s 50% stake in Axactor Invest, to take 100% ownership of the entity. ABG Sundal Collier issued a fairness opinion to the Board of Directors of Axactor in respect of the valuation of Axactor Invest.
The result of the initiatives taken is expected to substantially improve shareholder returns through the accretive contribution from the Axactor Invest roll-up and improved financing terms, yielding a substantial uplift in ROE and EPS. Further, the initiatives will allow for higher free cash flow, investment capacity and dividend potential going forward while simplifying the corporate structure.
