Login: FinlandRopo Capital’s Parent Company RopoHold Oy has issued a 50 million senior secured bond. The transaction was well received by the market and drew interested especially from Swedish and Norwegian investors.
Ropohold Oy (”Ropo” or the “Company”), has successfully placed a EUR 50 million senior secured bond under a framework of up to EUR 75 million (the “Bonds”). The Bonds, maturing in December 2020, will bear a floating rate coupon of 3 month Euribor + 7.00 per cent, with interest paid quarterly. The Bonds will be governed by Finnish law and the Company has undertaken to list the Bonds on Nasdaq Helsinki within 9 months of the issue date.
The proceeds from the transaction will be used to refinance existing interest bearing debt, repay shareholder loans, make an extraordinary dividend to the owners of the Company and for general corporate purposes.
The transaction was well received by the market, with participation primarily from Swedish and Norwegian institutional investors, coupled with strong demand from other Nordic and continental European accounts.
“The bond issue secures the Company’s financing for a foreseeable future and is well suited to support the Owner’s and Management’s growth plans for the Company in its early stages. The flexible financing obtained through the bond will enable the Company to pursue its goal of becoming the leading Finnish provider of invoice lifecycle management, continuing to disrupt the industry as it stands today” says Artti Aurasmaa, CEO of Ropo Capital.
Pareto Securities AB acted as Sole Bookrunner in connection with the bond issue.
For more information, please contact:
Artti Aurasmaa, CEO, Ropo Capital
+358 45 186 17 75, artti.aurasmaa@ropocapital.fi
Markus Wirenhammar, Head of Debt Capital Markets, Pareto Securities AB
+46 70-872 51 86, markus.wirenhammar@paretosec.com
About Ropo Capital
Ropo Capital is a leading Finnish provider of invoice lifecycle management services covering the whole value chain of receivables management. Headquartered in Kuopio, Finland, the Company employs approximately 140 people and serves more than 8,000 customers in Finland spanning from SMEs to large corporates. The Company delivers every 6th invoice in Finland and handles EUR 5 billion in customer assets per year.
About Sentica
Sentica is an independent private equity company focusing on acquiring and developing Finnish mid-sized and small companies. Funds under Sentica’s management amount to some EUR 500 million with fund investors consisting of Finnish institutional investors and high quality European fund of funds. www.sentica.fi