Axactor ASA: Repurchase of bonds

Axactor ASA today announces the re-purchase of additional EUR 51.7 million of outstanding bonds at sub-par prices.

EUR 50.0 million of the acquired bonds relates to the EUR 300 million bond with ticker ACR03, maturing in September 2026. After the re-purchases, the outstanding face value adjusted for treasury bonds is EUR 180.2 million.

The remaining EUR 1.7 million re-purchased in 2025 relates to the NOK 2,300 million bond with ticker ACR04, maturing in September 2027. After the re-purchases, the outstanding face value adjusted for treasury bonds is EUR 199.8 million.

The purchases were made at an average price of 97% of par and will result in a gross gain of EUR 1.4 million, of which the majority will be recognized in the first quarter results for 2025.

"As communicated, we aim to refinance our 2026 loan maturities during this year. We recently announced the extension of our RCF agreement, and with EUR ~100 million in bond re-purchases over the last two quarters we are well under way with the ACR03 bond as well," says Johnny Tsolis, CEO of Axactor. He continues "The bond re-purchases will, together with falling IBOR curves, ensure that our effective funding cost improves significantly."