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Sensys Gatso successfully issues senior unsecured floating rate bonds of EUR 30 million to further accelerate growth
06-09-2024
Sensys Gatso Group AB (publ), (the “Company”) has successfully raised EUR 30 million through the issuance of senior unsecured bonds with a four years tenor and a floating rate interest of Euribor 3 months + 4.75% per annum under a framework of EUR 60 million (the “Bonds” and the “Bond Issue”). The net proceeds from the Bond Issue will partly be applied to refinance existing debt and primarily towards general corporate purposes, including investments in working capital and fixed assets in operation to accelerate further growth of the Company. The Company will apply to have the Bonds admitted to trading on the corporate bond list of Nasdaq Stockholm.
The offering was well received by both Nordic and European institutional investors and the Bond Issue was oversubscribed.
“Our mission is to make traffic safer. By the end of 2025, our ambition is to exceed SEK 1 billion in net sales, with more than SEK 600 million from TRaaS, while increasing our EBITDA margin to over 15%. With a strong order book and a revenue backlog of SEK 1.14 billion from major contracts in Sweden and the Netherlands, we’re well-positioned for growth. Our TRaaS business continues to thrive, particularly in the U.S., where 75% of our SEK 736 million first-half order intake originated. This bond issue will fund our growth plan, supporting investments in working capital and fixed assets to accelerate our expansion”, says Ivo Mönnink, CEO of Sensys Gatso.
Carnegie Investment Bank acted as sole bookrunner in the transaction and Gernandt & Danielsson Advokatbyrå KB and Kanter Advokatbyrå as legal counsels.
The information was submitted for publication, through the agency of the contact person set out above, at 14.25 on September 6, 2024.
For further information:
Ivo Mönnink, CEO
Sensys Gatso Group AB
E-mail: investors@sensysgatso.com
Sensys Gatso Group AB is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso Group has subsidiaries in Australia, Costa Rica, Germany, the Netherlands, Saudi Arabia, Sweden and the USA, and a branch office in the United Arab Emirates and has 302 employees. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm.
For further information, visit www.sensysgatso.com