SSCP Lager BidCo AB (publ) successfully issues new senior secured floating rate notes of SEK 850 million, announces the results of the tender offer and gives conditional notice of early redemption of outstanding notes

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Press release

21 November 2023

SSCP Lager BidCo AB (publ) successfully issues new senior secured floating rate notes of SEK 850 million, announces the results of the tender offer and gives conditional notice of early redemption of outstanding notes

SSCP Lager BidCo AB (publ) (“SSCP Lager BidCo” or the “Company”) has successfully issued new senior secured floating rate notes in an initial amount of SEK 850,000,000 (the “New Notes”) and announces the results of the tender offer (the “Tender Offer”) to the holders of SSCP Lager BidCo’s outstanding 2019/2024 senior secured floating rate notes due 2024 with ISIN SE0013358686 (the “Outstanding Notes”). The order book was significantly oversubscribed.

The Tender Offer expired on 21 November 2023 as previously announced. The Tender Offer has been accepted by holders of Outstanding Notes representing a total nominal amount of SEK 475.2 million. The Company will complete the Tender Offer at the previously communicated price of 100.734 per cent. of the nominal amount together with any accrued and unpaid interest and accepts all validly tendered Outstanding Notes for purchase. Settlement for the Tender Offer is expected to occur on or around 5 December 2023. The Tender Offer was made on the terms and subject to the conditions set out in a tender information document dated 9 November 2023 (the “Tender Information Document”). SSCP Lager BidCo’s repurchase of the validly tendered Outstanding Notes under the Tender Offer is conditional upon the Company receiving the proceeds from the issue of the New Notes.

The New Notes were issued under a total framework of SEK 1,300,000,000, carry a floating interest rate of 3m Stibor + 625 basis points and will mature in December 2026. SSCP Lager BidCo intends to apply for admission to trading of the New Notes on the corporate bond list of Nasdaq Stockholm.

SSCP Lager BidCo further announces that the Company exercises its right to make an early redemption of the Outstanding Notes not being tendered in the Tender Offer, in accordance with the terms and conditions of the Outstanding Notes (the “Early Redemption”). The Early Redemption is conditional upon the successful settlement of the New Notes. The Outstanding Notes not being tendered in the Tender Offer will be redeemed at a price equal to 100.734 per cent. of the nominal amount together with any accrued and unpaid interest (the “Redemption Price”). The Redemption Price will be paid to each person who is registered as owner of Outstanding Notes in the debt register maintained by Euroclear Sweden at the end of business on 8 December 2023. In connection with the Early Redemption, the Outstanding Notes will be delisted from the corporate bond list of Nasdaq Stockholm.

A notice of the Early Redemption is sent today, 21 November 2023 to directly registered owners of the Outstanding Notes in the debt register maintained by Euroclear Sweden as of 20 November 2023.

The Tender Information Document and the notice of Early Redemption are available on SSCP Lager BidCo’s website, via the following link: https://logent.se/investor-relations/

The Company has mandated Nordea Bank Abp and Pareto Securities AS to act as arrangers and joint bookrunners in respect of the issuance of the New Notes and dealer managers in connection with the Tender Offer. Hannes Snellman Attorneys Ltd acts as legal advisor to the Company and Gernandt & Danielsson Advokatbyrå KB acts as legal advisor to the joint bookrunners and dealer managers.

For further information, please contact:

Linda Aidanpää Baronnet, CEO, telephone number: +46 70 785 87 25, linda.aidanpaa@logent.se

Johan Wallmander, acting CFO, telephone number: +46 70 351 77 24, johan.wallmander@logent.se

This information is information that SSCP Lager BidCo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 21 November 2023, at 15:50 CET.

About Logent Group
Logent is a comprehensive and independent logistics partner, with a Nordic base and with global networks. We have a wide range of services and create value for our customers through guaranteed cost and quality improvements. Our services include Logistics Services such as Warehouse Management, Transport Management and Customs, Port and Combined Terminals, Staffing Services and Consulting Services. This means that Logent has grown to a turnover of about SEK 2.4 billion from the start in 2006 and employs approximately 3,800 people.

Attachment

• Press release Completion - result of tender offer - early redemption

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