ABG Sundal Collier acted as joint manager and bookrunner for Novedo in connection with their SEK 550m four-year second-lien secured convertible bond issue

Novedo Holding AB (“Novedo”), a Nordic industrial group specialised in the acquisition and development of entrepreneurial niche SME’s, has successfully issued four-year second-lien secured convertible bonds in a total nominal amount of SEK 550 million, including undertakings by entrepreneurs to convert earnouts, vendor notes and reinvestments. The transaction received strong interest from Nordic and international investors and the books were oversubscribed.
The Convertible Bonds will carry a fixed pay-in-kind (PIK) interest of 12.0 percent and issued at 96.0 percent of par.