Mohinder FinCo AB (publ) explores the possibility to issue senior secured floating rate bonds
28 NOVEMBER 2024
NOT FOR DISTRIBUTION IN OR TO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO PUBLISH OR DISTRIBUTE THIS PRESS RELEASE
Mohinder FinCo AB (publ) (u.c.n.f. Goldcup 101357 AB) (the "Company"), a single purpose vehicle established by funds advised by Triton in connection with Triton’s acquisition of MacGregor (the “Target”) from its parent company Cargotec Corporation (the “Acquisition”), hereby announces that it has mandated Arctic Securities AS, filial Sverige and Nordea Bank Abp as global coordinators and Arctic Securities AS, filial Sverige, Danske Bank A/S, Nordea Bank Abp, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB (publ) as joint bookrunners to explore the possibility to place senior secured floating rate bonds with an expected issue size of EUR 175,000,000 with a framework of up to EUR 350,000,000, subject to prevailing market conditions (the "New Bond Issue”). The Acquisition, which is subject to regulatory approvals and other customary closing conditions, is expected to close by 1 July 2025. Following completion, Triton intends to form a standalone company.
MacGregor employs about 1,800 people across 30 countries and is providing integrated cargo and load handling solutions and services designed to perform at sea for the maritime transportation and offshore industries.
Triton has leading experience in carving out businesses from blue-chip corporates – such as Siemens, SKF, Bosch and others – and building them into successful standalone companies. Since inception, Triton Mid-Market has completed more than 30 successful carve-out transactions to date.
The proceeds from the potential New Bond Issue will applied by the Company to finance part of the purchase price for the Acquisition and any potential overfunding, pay related transaction costs and to finance general corporate purposes of the Company and the Target.
Gernandt & Danielsson is advising the global coordinators and joint bookrunners and Linklaters is advising Triton and the Company in connection with the contemplated New Bond Issue.
For additional information, please contact:
Fredrik Hazén
Communications Professional, Triton
Tel.: +46 709 483 810
Email: hazen.wp@triton-partners.com
About MacGregor
MacGregor is a leader in sustainable maritime cargo and load handling with a strong portfolio of products, services and solutions, all designed to perform with the sea. Shipbuilders, shipowners and operators are able to optimise the lifetime profitability, safety, reliability and environmental sustainability of their operations by working in close cooperation with MacGregor. For further information: www.macgregor.com.
About Triton
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare. Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit. For further information: www.triton-partners.com.
