On 19 October 2020, Zengun Group AB (publ) (the “Company”) issued a covered bond of SEK 600,000,000 within a framework of SEK 1,000,000,000 (the “Bond”). The Company has acquired 20 Bonds with a total nominal value of SEK 25,000,000. The price per Bond amounted to 98.5% of the Bond’s nominal value. The total purchase consideration for the bought-back bonds thereby amounted to SEK 24,625,000.
The objective of the buy-back was to reduce the Company’s gross debt and interest expenses and was made possible by the Company’s strong cash position. Following the buyback, Zengun’s holdings of the aforementioned Bonds totals a nominal amount of SEK 100,000,000.
For more information, please contact:
Mick Salonen Högberg, President and CEO, +46 (0) 70 569 66 73
Stefan Lindh, CFO +46 (0) 70 383 16 07
Driving projects drives Zengun. We operate in Stockholm and Mälardalen, in close collaboration with customers and always with the project and people in focus. We help property owners improve their property portfolios in each project by offering know-how and skills as a collaboration and sustainability partner throughout the entire lifespan of the project. We build commercial properties, with a mix of select public-sector properties and residential projects. We take the long term into consideration for our employees, customers and surroundings, and are constantly developing to make each project a reference project. In 2021, Zengun had sales of approximately SEK 1.8 billion and 130 employees. #zengunbyggerstaden