Verve Group SE successfully placed a subsequent bond issue in an amount of EUR 65 million under the Company?s existing senior secured floating rate bond framework with ISIN SE0018042277 (Bonds). Following the Subsequent Bond Issue, the outstanding amount under the Bonds will be EUR 240 million. The transaction was met with strong demand from primarily institutional investors based in the Nordics, Europe and the U.S., and was placed at a price of 102.50% of par resulting in a yield of 3m Euribor + 4.88%.

This is significantly down from the latest bond issue in 2023 with a yield of 3m Euribor + 7.25% and results in a reduction in financing costs of 2.37% compared to the last bond issue. Given the significant increase in size and profitability following the Jun Group acquisition as well as immediately improved credit ratios following the equity issuance the Company expects to save at least EUR 10 million in annual interest costs once the outstanding debt is refinanced at better terms. Proceeds from the Subsequent Bond Issue will be used to fully redeem the Company?s outstanding 2020/2024 senior secured bond with ISIN SE0015194527 (the ?2020 Bonds?) and for general corporate purposes of the Company. The 2020/2024 Bonds will be redeemed at the redemption price of 100.719 per cent.

of the outstanding nominal amount (that is EUR 100,719 per 2020/2024 Bond) together with any accrued and unpaid interest. The redemption date of the 2020/2024 Bonds will be 29 July 2024 and the record date will be 22 July 2024, conditional upon the Subsequent Bonds having been issued by the record date for the redemption. The Company will issue a release if the condition is not fulfilled.

A notice of early redemption will be sent to directly registered owners of the 2020/2024 Bonds in the debt register as of 2 July 2024. Settlement of the Subsequent Bonds is expected to be on or about 15 July 2024. The Company intends to apply for admission to trading of the Bonds on the Open Market of the Frankfurt Stock Exchange and the corporate bond list of Nasdaq Stockholm.

Pareto Securities AB acted as sole bookrunner and Gernandt & Danielsson Advokatbyrå acted as legal advisor in connection with the Subsequent Bond Issue.