Arise AB (publ), (“Arise” or the “Company”), has today successfully issued a new three year senior secured green bond of SEK 650m (ISIN SE0010920900) with a floating rate of 3 months STIBOR + 4.50 % p.a., (“the Bond”). The Bond matures in March 2021.
The Bond issue was oversubscribed after receiving strong interest among a number of top tier institutions, credit funds and private individuals primarily in the Nordics. The Bond has been assigned a GB1 (Excellent) grade by Moody’s which has been an important feature for many investors. Arise intends to apply for a listing of the Bond on Nasdaq Stockholm.
Arise will use the proceeds from the bond issue, together with the Company’s own funds and bank financing of SEK 175m secured from DNB Sweden AB, to refinance the outstanding senior secured green bond of SEK 951.5m maturing in April 2019 (ISIN SE0005906849). The refinancing will decrease the Company’s gross debt, improve credit metrics and extend its maturity profile.
The refinancing will allow Arise to direct its full focus on accelerating growth in its development and asset management business. In 2018 the Company plans to sell two projects while measures are being taken to further strengthen the project portfolio and the Company’s position within asset management services in the growing Nordic wind power market.
With a decreased and long term sustainable debt level in the Company’s wind farms, focus in that area of the business can now increasingly turn to implementation of value creating initiatives, including proactive measures to extend the technical and economic life of the wind farms, further optimize production and lower the risk adjusted opex by continuing to roll out the new service strategy across the fleet.
ARISE AB (publ)
For further information, please contact
Daniel Johansson, CEO Arise AB, +46 702 244 133
Linus Hägg, CFO Arise AB, +46 702 448 916
This information is information that Arise 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 persons set out above, at 09.00 CET on 12 March, 2018.
Arise is one of Sweden’s leading wind power companies, with the business concept to develop, build and manage onshore wind farms for its own account and on behalf of investors. The company is listed on NASDAQ Stockholm.
Arise AB (publ), P.O. Box 808, SE-301 18 Halmstad, Sweden, telephone +46 (0)35 20 20 900, corporate id .no. 556274-6726
E-mail firstname.lastname@example.org, www.arise.se