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CapMan issues €30 million in debt securities to replace its current hybrid bond


Not for publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Hong Kong, Australia or any other jurisdiction in which the distribution or release would be unlawful.


CapMan Stock Exchange Release 10.10.2013 at 2.15 p.m. EEST

CapMan issues €30 million in debt securities to replace its current hybrid bond

CapMan issues a €15 million senior bond and a €15 million hybrid bond. The proceeds will be used to replace CapMan’s existing €29 million hybrid bond, which was issued in December 2008. CapMan has the option to call the existing bond on 18 December 2013.

The senior bond and the hybrid bond were oversubscribed. The issue was directed at domestic institutional investors.

The senior bond will have an annual coupon rate of 5.5% and a maturity of four years. The annual coupon rate of the new hybrid loan is 8.0%. The interest of the bonds will be paid annually. The hybrid bond has no maturity, but CapMan has the right to call it four years from the issue date. The company has an option to call the bond in two years the earliest from the issue date in accordance with certain terms and conditions. The estimated issue date of the bonds is 11 December 2013.   

“The arrangement lowers CapMan’s financing expenses significantly, increases the maturity of the company’s portfolio of loans and maintains CapMan’s good liquidity position”, says Niko Haavisto, CapMan’s CFO.

The hybrid bond is an instrument that is subordinated to the company’s other debt obligations, but senior to other equity instruments. The hybrid bond has no maturity and is treated as equity in the Group’s financial statements under IFRS. The holders of the hybrid bond do not have shareholder rights and the bond issue will not dilute holdings of the company’s shareholders.

Summa Corporate Finance acts as financial advisor of CapMan and Lead Manager of the bond issues and FIM Bank Ltd as the issuer agent. Attorneys at Law Borenius Ltd provide legal counselling for CapMan.   

For more information, please contact:
Niko Haavisto, CFO, CapMan Plc, tel. +358 207 207 583 or +358 50 465 4125



Linda Tierala
Manager, Communications & IR



Principal media

CapMan Group is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of €3.3 billion. CapMan has five key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Credit, CapMan Public Market, and CapMan Real Estate – each of which has its own dedicated investment team and funds. Altogether, CapMan employs 105 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.


This release shall not constitute an offer regarding the securities of CapMan Plc in the United States or in any other jurisdiction. The securities referred to herein or any offer regarding such securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, and may not be offered, exercised or sold in the United States absent registration or an applicable exemption from registration requirements.