Go North Group AB (publ) has successfully placed SEK 550 million equivalent of senior secured floating rate bonds

Gothenburg 26 January 2023

Go North Group AB (publ) has successfully placed SEK 550 million equivalent of senior secured floating rate bonds

Go North Group AB (publ) (“Go North” or the “Company”) has, following a bookbuilding process, successfully placed SEK 550 million equivalent of senior secured floating rate bonds with qualified investors in the Nordics, Europe, and the U.S. (the “New Bonds”). The New Bonds will be issued in two tranches of which SEK 350 million will be issued on the first issue date (the “SEK Tranche”) and equivalent to SEK 200 million is an underwritten subsequent bond issue (the “USD Tranche”). The USD Tranche will be non-interest-bearing until any drawdown and New Bonds issued in the USD Tranche may be issued in either USD or SEK.

The New Bonds will have a tenor of 3 years and carry a floating rate coupon of 3m STIBOR + 1,100 basis points per annum in the SEK Tranche and 3m LIBOR + 1,100 basis points per annum in the USD Tranche.

Proceeds from the New Bonds will be applied towards redeeming the Company’s outstanding bond with ISIN SE0018040867 (the “Existing Bonds”), paying transaction costs, and to finance general corporate purposes, including investments and acquisitions. The transaction received strong interest from investors across the Nordics, Europe, and the U.S. with participation in the placement from both existing and new investors, ultimately resulting in an oversubscribed book.

With respect to the redemption of the Existing Bonds, please refer to the separate announcement for further details.

Settlement of the New Bonds will take place on 9 February 2023 and bonds issued in the SEK Tranche will be listed on Nasdaq Stockholm (or another regulated market) within 12 months of the first issue date and the Open Market of Frankfurt Stock Exchange or another MTF as soon as practicable.

Pareto Securities AB acted as sole bookrunner in the transaction. Roschier acted as legal advisor.

“I’m very pleased to see the strong interest in our bond issue and grateful to our existing and new investors who continue to believe in us and our portfolio of Amazon FBA brands, supported by our rapid profitable growth. This new bond will further boost our acquisition-based and organic growth, and hence value creation” says Johan Hallenby, Founder and CEO of Go North Group AB.

For more information, please contact:

Johan Hallenby, CEO/Founder

Tel: +46 735 070707 

Mail: johan.hallenby@gonorth.co

Information:

This information is information that Go North Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 18:10 CET on 26 January 2023.

About Go North:

Go North Group AB (publ), acquiring and scaling Amazon FBA brands and has in just over a year built a portfolio of 30 brands, diversified across a variety of Amazon categories, ranging from pets, sports, and outdoors to kitchen supplies. In parallel, Go North has now built a team of about 50 people, with several key hires coming with Amazon Aggregators and marketplace experience, spread across Europe the US, and Asia. Continued investments in technology and data are business critical and within the Go North DNA, to ensure strengthen our processes, and make data-driven and informed decisions to create future repeatable and scalable profit growth for ​​the group.