On May 15, 2014 PWT Holding A/S (“PWT Group”) successfully placed a five-year DKK 300 million Senior Secured High Yield bond. The bond, will be maturing on May 26, 2019, and has no financial maintenance covenants or fixed amortizations. The bonds will be listed on NASDAQ OMX Stockholm.

The transaction was well received by the market, as evidenced by a very strong demand from all Nordic countries. Altogether around 50 investors participated in the issue and around 2/3 of the subscriptions were placed by non-Danish investors with significant demand from Continental Europe, United Kingdom and Asia. The book was well oversubscribed and was closed after only one day of roadshow.

“Through the issuance of the bond, PWT Group achieves a more efficient and flexible capital structure and secures financing for continued growth,” says Henrik Theilbjørn, Chairman of the PWT Group’s Board of Directors. “The transaction empowers the company to enhance its position as a leading Scandinavian menswear company.”

PWT Group

PWT Group is a leading Scandinavian menswear group, which owns and operates the two men’s clothing chains Tøjeksperten and Wagner, as well as the international brand and wholesale of men’s clothing, Texman.

Tøjeksperten is the largest menswear chain with 100 stores across Denmark, while Wagner has 53 stores in Denmark and 17 in Norway. Texman develops, manufactures and sells a wide range of strong brands – Lindbergh, Shine, Bison, Morgan, Junk De Luxe Jack’s and Huzar. The brands are sold in Group’s own two retail chains, and in addition, the Group brands are also sold by more than 900 other independent retailers in 20 countries.

PWT Group is owned 66% of Polaris Private Equity. Among the other shareholders, are the company’s management and board as well as the previous owners.

Contact:
CFO PWT Group:
Claus Back Nielsen – cbn@pwtgroup.dk / +45 2543 4611