Go North to hold investor meetings for possible bond offering

By Mary-Katherine Stinson

Lexington, Ky., Jan. 13 – Go North Group AB (publ) will start a series of fixed income investor meetings on Tuesday to discuss the possible issuance of a three-year senior secured floating-rate bond in an initial amount up to SEK 500 million, according to a press release.

Pareto Securities AB is arranging the meetings.

Proceeds of a bond issue would be used to finance the redemption of Go North’s existing bond loan identified with ISIN SE0018040867, to finance transaction costs and for general corporate purposes, including investments and acquisitions.

The group also reported preliminary financial information for the fiscal year ended in November. The group’s revenue and adjusted EBITDA amounted to SEK 427 million and SEK 81 million, respectively, on a pro-forma basis. Gross interest-bearing debt totaled SEK 275 million, and the group’s the total cash position was SEK 168 million.

Gothenburg, Sweden-based Go North acquires and scales Amazon FBA brands and currently has a portfolio of 30 brands diversified across a variety of Amazon categories, including pets, sports, outdoors and kitchen supplies.

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