Nobina AB

Refinancing of Concordia Bus concluded

Pressmeddelande   •   Jul 08, 2009 13:01 CEST

In the rights issue for new ordinary shares, according to the decision at the Concordia Bus AB extraordinary shareholders meeting on 4 June, offering 202 276 500 shares at a subscription price of 4 SEK, 211 451 122 shares has been subscribed on 7 June, the last day for subscription, resulting on an over subscription by 9 174 622 shares. Available shares will be allotted with priority to existing shareholders within the maximal number of new shares available will provide proceeds of 809,1 M SEK in new share capital. The Board of Directors in Concordia Bus AB have now decided to redeem the outstanding preference shares for a total amount of 637 M SEK and the redemption is expected to take place before end of July.

The issue of new senior notes of 130 M Euro in the subsidiary Concordia Bus Nordic AB has at the first date for exchange on 6 June resulted in to new senior notes of 112,4 M Euro by existing holders who will receive an exchange fee of 1%. The Board of Directors in Concordia Bus Nordic AB have decided to prolong the time for the exchange offer including the exchange fee of 1% until 12 July. Subscription for new senior notes will, according to the time plan, be open until 21 July both as exchange offer without exchange fee for existing holders as well as new subscription by new investors.

"We are very satisfied with the outcome of the refinancing", says Per Skärgård, CFO of Concordia Bus. As the rights issue has been fully subscribed, the outcome is far above the minimum level of 600 M SEK. When we add the 86,5 % outcome of the subscription of new senior notes so far, it means that the refinancing has been secured already now.

For further information, please contact:

Per Skärgård, CFO, tel: +46 8 41065056

About Concordia Bus

Concordia Bus is one of Europe's ten largest public transportation groups and the leading bus transportation group in the Nordic countries. Concordia Bus transports ca 280 million passengers annually in its three business segments in Sweden, Norway, Finland and Denmark: public bus transportation, express bus, and coach hire. Swebus and Swebus Express in Sweden, Concordia Bus Norge, Concordia Bus Finland Concordia Bus Danmark and Concordia Bus Fleet is part of the group.