LEAX issues a senior unsecured bond of SEK 300m
LEAX Group AB (publ) (“LEAX”) has successfully raised SEK 300m in a senior unsecured bond with a tenor of 4 years. The proceeds from the bond issue will be used to increase the financial flexibility for LEAX and enable investments in its two new projects with a leading Nordic passenger car manufacturer. The bond issue was met with great interest and was successfully placed with over 50 qualified institutional investors throughout the Nordic region.
“As a private company, LEAX is overwhelmed by the interest from institutional investors to participate in our first capital markets transaction. The proceeds from the bond issue gives LEAX the financial strength and flexibility needed to invest in our new major projects within the Automotive segment”, says Henrik Fagrenius, President and CEO of LEAX.
LEAX intends to apply for listing of the bond on the corporate bond list of Nasdaq Stockholm. ABG Sundal Collier has acted as financial advisor and sole bookrunner for LEAX in connection with the bond issue. Gernandt & Danielsson Advokatbyrå has acted as legal advisor.
LEAX Group is a company with more than 1 200 employees. The company has operations in Köping, Falun, Falköping and Tidaholm in Sweden, Riga and Rezekne in Latvia, Curitiba in Brazil, Detmold in Germany, Mezökövesd in Hungary and Kunshan in China. LEAX Group is a manufacturer of mechanical components and subsystems for the heavy vehicle industry, mining and construction industries and other engineering industries. LEAX also delivers customized gearboxes for various mechanical engineering industries.