26 June 2014

Gernandt & Danielsson advises in Nordic Service Partners Holding’s bond issue

Gernandt & Danielsson advises in Nordic Service Partners Holding’s issue of corporate bonds amounting to SEK 200 million.

Nordic Service Partners Holding AB (publ) (“NSP”), which is one of the largest food service companies in Sweden specialised in fast food restaurants, has issued floating rate corporate bonds amounting to SEK 200 million. The purpose of the issue was to refinance existing bank debt and to invest in new restaurants, acquire restaurants related to the brands as well as general corporate purposes. NSP is Burger King’s largest franchisee in the Nordic and is a franchisee for KFC (Kentucky Fried Chicken) and TGI Friday’s. As security for NSP’s obligations under the terms and conditions for the bonds NSP has granted security over the shares of certain subsidiaries. The issue was conducted through a private placement directed at Swedish and international institutional investors. The terms and conditions for the bonds includes an option to issue subsequent bonds in the future. The company has undertaken to list the bonds on the corporate bond list of NASDAQ OMX Stockholm.

Gernandt & Danielsson has advised the company and its financial advisors Skandinaviska Enskilda Banken AB (publ) with a team consisting of Partners Mikael Borg and Candra Torebring assisted by Senior Associate Sofie Viktorsson and Associates Adrian Della Morte Pålstam and Philip Rämsell.

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