Delete has placed its inaugural bond issue of EUR 85m


– Delete successfully placed a EUR 85m senior secured bond issue

– Issue proceeds will be used to repay existing financing facilities and for general corporate purposes, including growth acquisitions

– The new bond is a 4yr floating rate note with 3mE+500bps margin with 0% floor

– Pre-sounding, roadshow and investor interaction showed very high investor interest in the Delete story resulting in an over-subscribed book

– Delete to become a public company as the bond will be listed on Nasdaq Helsinki within 12 months

According to the terms and conditions of the bond, Delete will, subject to certain restrictions, be able to tap the bond market for up EUR 45m additional funds. In addition to the new bond, Delete will also replace the current revolving credit facility with a new facility provided by Nordea.

In accordance with the bond terms and conditions, Delete will apply for the listing of the bond on the Official List of Nasdaq Helsinki Ltd within 12 months from the issuance of the bond. A listing prospectus will be prepared for this purpose in accordance with the EU Prospectus Directive and the Finnish Securities Market Act. Further, according to the terms and conditions of the bond, Delete will start to report publicly its quarterly and annual financial statements following the listing of the bond.

“We are very excited for this successful financing transaction that enables us to widen our capital base and supports our strategy growth ambitions both organic and inorganic for the coming years. As part of the transaction, we will also start to publish information as a public company. This will additionally increase our already high level of transparency and I am confident this will further strengthen our stakeholders’ view of us as a large, professional and trusted partner.”

  • Jussi Niemelä, CEO

“We are thrilled to have been able to successfully conclude this landmark financing transaction for Delete in a very tight timetable. We are very satisfied with the terms and pricing of the issue, as well as the financial flexibility it provides for the company.”

  • Robert Öhman, CFO

“We met a significant number of large institutional investors during the roadshow with management, and are more than pleased to report that investors shared Axcel’s excitement towards the investment story of Delete, as evidenced by the oversubscription and over 120 large investors included in the allocation. Axcel place high importance on maintaining an active and constructive dialogue with credit market investors as an important and growing source of financing supporting our investments.”

  • Vilhelm Sundström, Axcel responsible partner for Delete

Nordea Bank AB (publ), Finnish Branch acted as the Lead Manager and sole bookrunner for the bond.


For further information, please contact:
Delete Group, CEO, Jussi Niemelä + 358 (0) 40 046 2696, or

Delete Group, CFO, Robert Öhman +358 (0) 40 540 0741, or

Axcel, Partner, Vilhelm Sundström +46 73 919 9000,


About the transaction:

Ax DEL1 Oy business identity code 2565169-4 (“Delete”, an indirect parent company of Delete Group Oy, the “Company”) has successfully priced an issue of EUR 85,000,000 3M EURIBOR + 5.00% notes (the “Notes”), with 0% floor, which will be issued in minimum subscriptions amount of EUR 100,000 under the terms and conditions of the up to EUR 130,000,000 senior secured floating rate notes (ISIN FI4000252119) dated 7 April 2017.

The settlement for the Notes will take place on 19 April 2017 and the maturity date of the Notes is 19 April 2021. The interest of 3M EURIBOR + 5.00% will be paid quarterly in arrears.

About Delete:

Delete is a leading environmental full-service provider present in Finland and Sweden. Delete was formed in 2010 through the combination of Toivonen Yhtiöt and Tehoc and was acquired by the Nordic based private equity investor Axcel in 2013.

Since 2011, Delete has made 23 acquisitions within the industrial cleaning and demolition segments. The latest larger acquisition was Demcom in June 2016, which strengthened the company’s position in the Swedish demolition services market.

The Company offers business critical services that require specialist competences and specialised equipment through three business areas: (i) Industrial Cleaning, (ii) Demolition Services, and (iii) Recycling Services

The Company is headquartered in Helsinki and employs c. 800 professionals at over 30 locations in Finland and Sweden. Pro forma net sales for 2016 amounted to EUR 174m with an adjusted pro forma EBITDA of EUR 21m.