News and Press releases
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DDM Holding AG
DDM Debt AB
DDM Treasury Sweden AB
DDM has successfully placed EUR 50 million of senior secured bonds
DDM Treasury Sweden AB (NGM: DDM1), a specialist investor in and manager of non-performing loans and distressed assets, announces that DDM Debt AB (publ) being a wholly owned indirect subsidiary of DDM Holding AG (First North: DDM), has successfully placed EUR 50 million of senior secured bonds in the Nordic market.
The proceeds from the bond issue will be used to refinance existing debt within the DDM Holding Group and to acquire more debt portfolios. The offering attracted very strong demand from the Nordic investor base where institutional demand dominated the oversubscribed order book. The bonds will be issued with a final maturity in January 2020, paying a fixed coupon of 9.5%, and the company intends to apply for the admission of the bonds to trading on Nasdaq Stockholm.
Fredrik Olsson, CFO of DDM said “We are very pleased with the strong investor demand for the bond issuance, and that the coupon rate of 9.5% is significantly lower than our current cost of funding. This is in line with our target to improve our capital structure, and reflects the significant and important steps that DDM has made in growing and developing the company over the past year.”
Carnegie Investment Bank acted as financial advisor and Roschier acted as legal advisor in conjunction with the bond issue.
This is information which DDM Treasury Sweden AB 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 below, at 18:00 CET on 20 January 2017.