Kongsberg Automotive to hold fixed income investor meetings and contemplates EUR bond issue

Kongsberg, June 3, 2024: Kongsberg Automotive ASA (KA), rated B1 by Moody’s and B- by S&P, has mandated ABG Sundal Collier and Danske Bank as Joint Lead Managers & Bookrunners to arrange a series of physical and virtual fixed income investor meetings commencing on Wednesday, June 5, 2024. A new senior secured four-year bond issue may follow, subject to inter alia market conditions.

The net proceeds from the contemplated bond issue will be used, together with available cash, to refinance the outstanding senior secured bonds due on July 15, 2025 (Existing Bonds). The Existing Bonds are issued by Kongsberg Actuation Systems BV, a wholly owned subsidiary of KA. After the Asset Disposition offer was concluded on May 28, 2024, the net outstanding principal amount is EUR 155 million. Subject to completion of the contemplated new bond issue, KA will call the remaining outstanding amount of the Existing Bonds in whole.

In connection with the contemplated new bond issue, KA has received commitment from Danske Bank for a new EUR 15 million senior secured revolving credit facility (New RCF). The New RCF will replace the existing revolving credit facility. The New RCF will be available for general corporate purposes and is subject to the successful placement of the new bond issue.

"This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Therese Sjöborg Skurdal, Director Corporate Communications, on the date and time provided."


Media and communications contact
Therese Sjöborg Skurdal - Director Corporate Communications
therese.skurdal@ka-group.com
+47 982 14 059

Investor Relations contact
Mads Langaard - Head of Investor Relations
mads.langaard@ka-group.com
+47 905 81 264

About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle industry. We drive the global transition to sustainable mobility by putting engineering, sustainability, and innovation into practice. Our product portfolio includes driver and motion control systems, fluid assemblies, and industrial driver interface products. Find more information at: www.kongsbergautomotive.com