Axactor taps dealers for NOK 2 billion offering of four-year bonds

By Mary-Katherine Stinson

Lexington, Ky., Aug. 17 – Axactor SE (B1/B) mandated Arctic Securities, DNB Markets and Nordea as joint lead managers for its proposed NOK 2 billion offering of four-year floating-rate senior bonds, according to a notice.

Pending market conditions, the deal is set to be shopped by means of fixed-income investor meetings beginning on Friday.

Axactor’s largest shareholder, Geveran Trading Co. Ltd., has pre-subscribed for NOK 750 million with preferred allocation in the new issue.

In connection with the potential new bond issue, Axactor will offer a conditional buyback of its outstanding bonds with the ticker "ACR02" due Jan. 12, 2024 (ISIN: NO0010914666), which will be contingent upon subscription in the new bond.

The Oslo-based debt collector plans to use the proceeds to redeem any of the 2024 bonds that remain outstanding after the buyback.

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