Accru Partners successfully places senior secured bond issue of EUR 550 million – the largest inaugural rated Nordic high yield bond offering in the market to date
Accru Partners successfully places senior secured bond issue of EUR 550 million – the largest inaugural rated Nordic high yield bond offering in the market to date
Accru Partners Group AB (publ) (“Accru Partners”), backed by the private equity firm Axcel, has successfully placed a EUR 550 million senior secured bond issue – the largest inaugural rated Nordic high yield bond offering in the market to date. The offering attracted strong interest from both Nordic and international investors and was significantly oversubscribed.
– “We appreciate the strong support for our inaugural bond issue. During the one week roadshow, we met more than 150 unique investors and the book was significantly oversubscribed with high quality international and Nordic investors. With this strong refinancing and additional capital raise, Accru Partners will be able to continue to grow and play an important role in the industry in the years to come as we continue to deliver the highest quality audit, accounting, tax and other advisory services to our customers,” says Andreas Thorling, CEO of Accru Partners.
– “We’re pleased to see the strong support from credit investors for Accru Partners’ bond issue. This is the fifth company in our current portfolio to access the Nordic bond market, making Axcel an active issuer and allowing us to contribute to the continued positive development of the Nordic public markets,” says Björn Larsson, Partner at Axcel and responsible for the investment in Accru Partners.
The bonds have a term of four years and carry a floating interest rate of 3-month EURIBOR plus 475 basis points. Proceeds will be used to refinance existing debt, support future add-on acquisitions and for other general corporate purposes.
The settlement date of the bond issue is expected to occur on 30 September 2026. The bonds will be listed on Nasdaq Stockholm or another regulated market within 12 months.
The bonds are rated B by Standard & Poor’s and B3 by Moody’s.
In connection with the bond issue, Accru Partners has also secured a EUR 125 million committed super senior revolving credit facility, which will be available to support future add-on acquisitions and for other general corporate purposes.
ABG Sundal Collier AB and Skandinaviska Enskilda Banken AB (publ) acted as Global Coordinators, and ABG Sundal Collier AB, Danske Bank A/S, Danmark, Sverige Filial, DNB Carnegie Investment Bank AB (publ), Nordea Bank Abp, Nykredit Bank A/S and Skandinaviska Enskilda Banken AB (publ) acted as Joint Bookrunners. Bruun & Hjejle acted as legal counsel to Accru Partners and Axcel, and Gernandt & Danielsson acted as legal counsel to the Global Coordinators and Joint Bookrunners.
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