June 18, 2014 - Assignment

Golden Heights issues SEK 400 million bond

Golden Heights AB issued today, 18 June 2014, a five year, SEK 400 million, senior secured high yield bond carrying a floating rate coupon (STIBOR + 4.75 per cent.) under Swedish law distributed to investors across the Nordics. The security granted consists of pledges over shares in Golden Heights and in a number of its subsidiaries as well as pledges over intra-group loans. The proceeds of the issue have been used to re-finance and simplify the existing debt capital structure. Application for a listing of the bonds on NASDAQ OMX Stockholm will be made.

Golden Heights, the parent company of the Iduna Group with retail chains Guldfynd, Hallbergs Guld and Albrekts Guld, is a leading jewellery company with annual retail sales in Sweden and Finland amounting to approximately SEK 1.3 billion and SEK 400 million, respectively.

Skandinaviska Enskilda Banken (SEB) has acted as sole bookrunner for Golden Heights and as lead manager for the notes issue. SEB appointed Mannheimer Swartling as deal counsel for the transaction with André Andersson leading the firm’s team consisting of David Tayler, Karin Stattin and Adam Rångemyr.