On 6 September 2019, First Mover Group AS successfully completed placement of its first bond loan in the amount of MNOK 200. There was plenty of interest from the market, and the bonds were placed with both private and institutional investors – so much so that the offering was significantly over-subscribed. The intention behind this bond issue is to enable the company to accelerate its growth and make value-boosting acquisitions on the Nordic market. The proceeds from the bond issue will be used to refinance approximately MNOK 100 in debts, with a further MNOK 70 earmarked for acquisitions and the remaining sum set aside for general corporate purposes. The bond has a tenor of 3 years, a floating coupon of 3mN + 6.0% and a framework of up to NOK 400m

“We are delighted with the positive reception we have received in the bond market and the confidence bond investors have shown in us. This bond will allow First Mover Group to continue its profitable growth, as well as providing access to capital to continue consolidating the Nordic market,” says Tore Martinsen, CEO of First Mover Group.

First Mover Group AS has successfully issued a bond of NOK 200m
On 6 September 2019, First Mover Group AS successfully completed its first bond issue of NOK 200m. The bond issue generated strong demand from private and institutional investors, and following a road show in Oslo, Stavanger and Stockholm, the bond was significantly oversubscribed. The bond issue will allow the company to accelerate its growth strategy and pursue attractive add-on acquisitions in the Nordic market. Of the net proceeds from the bond, around NOK 100m will be used to refinance debt and NOK 70m will be earmarked for acquisitions, while the remainder is reserved for general corporate purposes. The bond has a tenor of 3 years, a floating coupon of 3mN + 6.0% and a framework of up to NOK 400m.
“We are very pleased with the positive response we have received, along with the trust shown by bond investors. The bond will allow First Mover Group to continue its profitable growth and give the company access to the financing necessary to continue to consolidate the Nordic market”, says Tore Martinsen, CEO of First Mover Group.