ABGSC acted as sole manager and bookrunner for Duett’s inaugural NOK 500m senior secured bond issue

Duett AS, majority owned by Accel-KKR, has successfully raised a NOK 500m senior secured bond issue. The bond issue will refinance the existing bank facility incurred whenAccel-KKR acquired the company in 2019 as well as partly finance the acquisition of SkyHost. Duett has more than 30 years of software heritage and this acquisition marks the first step towards establishing the company internationally. The senior secured bond issue has a coupon of 3-month Nibor plus 5.0% p.a. The transaction received strong demand and was substantially over-subscribed following a two day virtual roadshow and bookbuilding period.