By Paul A. Harris
Portland, Ore., Dec. 2 – Assemblin, a Stockholm-based specialist services provider, priced a €250 million issue of 5.5-year senior secured floating-rate notes (B2/B) with a 500 basis points spread to Euribor and a 0% Euribor floor, according to a Monday press release from the company.
Deutsche Bank managed the sale, market sources said.
The company, which came into existence in 2015 when venture capital firm Triton Partners acquired the Imtech Nordic business from Royal Imtech NV, plans to use the proceeds to repay debt and fund a dividend to funds affiliated with Triton.
Assemblin’s services bear upon the electrical, heating, plumbing and HVAC segments.
| Issuer: | Assemblin Financing AB
|
| Amount: | €250 million
|
| Tenor: | 5.5 years
|
| Securities: | Senior secured floating-rate notes
|
| Lead: | Deutsche Bank
|
| Coupon: | Three-month Euribor plus 500 bps
|
| Euribor floor: | 0%
|
| Call protection: | One year
|
| Announcement date: | Dec. 2
|
| Settlement date: | Dec. 6
|
| Ratings: | Moody's: B2
|
| S&P: B
|
| Marketing: | Roadshow
|
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