Strategic innovation and technology company Nortal has successfully placed a €50 million bond issue, raised to bolster expansion efforts and refinance the existing bond. The international bond issue attracted significant interest and was heavily oversubscribed. The senior secured bonds will be issued with a five-year maturity and a margin of 3.15%.
LONDON, Jan. 31, 2024 /PRNewswire/ -- According to Priit Alamäe, founder and CEO of Nortal the success of the bond issue demonstrates the company's esteemed reputation as well as signifies the confidence of the investor community.
The bond proceeds will be used to refinance the existing bond and continue to accelerate growth through acquisitions in North America, the UK and the DACH region. "In the US, we are strategically focusing on acquisition opportunities on the East coast to complement our existing presence from the Pacific Northwest, which has served as the base for our US operations," said Alamäe.
In Canada and the UK, the company's focus is on accelerating the growth of greenfields established in 2022 and 2023, respectively. "Within this short time, we have seen significant interest and continued opportunities for our core offering: building the most advanced digital services for governments and businesses," he added.
Nortal is also focusing on expanding its footprint in the Americas to support the company's North American customers in the same time zone. "Accessing the highly skilled and technically strong Latin American talent pool will enable us to provide a follow the sun delivery and support model for our customers in North America, offering uninterrupted customer delivery and service across multiple time zones from our delivery centres in Europe and the Americas," said Alamäe.
The bond was mainly subscribed by renowned institutional investors from the Nordics and Continental Europe.
For the bond issue, Pareto Securities acted as global coordinator and bookrunner, and the bonds agent is Nordic Trustee Oy.
About Nortal
Nortal is a strategic innovation and technology company with an unparalleled track-record of delivering successful transformation projects for over 20 years. Having offices in Europe, the Middle East, and in North America, we are close to our customers while backed by a vast global talent pool of more than 2,000 people. www.nortal.com.
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