ABG Sundal Collier acted as sole manager for Puzzel, backed by Marlin Equity Partners, in connection with the inaugural NOK 1,000 million senior secured bond issue

On Friday 12 December 2025, Jigsaw Bidco AS (“Puzzel” or the “Company”) successfully completed its inaugural NOK 1,000m senior secured bond issue with a 3-year tenor to refinance the existing debt in the Company and for general corporate purposes. The bond issue attracted strong interest from a broad range of institutional investors.
Puzzel is a leading provider of mission critical, cloud-based customer experience software solutions with its primary foothold in the Nordics and UK, and growing presence in Benelux. Puzzel serves ~950 active customers across industries with a particular focus on regulated sectors (e.g. finance, utilities, public sector). The Company is backed by Marlin Equity Partners, a leading global investment firm specialising in software and technology.
ABG Sundal Collier appreciates the opportunity to assist Marlin Equity Partners and Puzzel with their inaugural Nordic bond issue.