Investors Rush to Lakers Group Inaugural SLB

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Stockholm (NordSIP) – Lakers Group AB, an aftermarket service provider of water and wastewater pumps, launched an inaugural 2025 NOK750 million sustainability-linked bond (SLB). The issuer’s majority owner is Summa Equity, a Stockholm-based private equity firm focusing on resource efficiency, changing demographics, and tech-enabled businesses.

“The successful completion of Lakers’ sustainability-linked bond is an important milestone for both Lakers and Summa Equity, confirming the strong investor interest in sustainable investing. With the new financing in place, we look forward to entering the next phase of Lakers’ growth journey with continued expansion across Northern Europe,” says Johannes Lien, Principal at Summa Equity and board member of Lakers.

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Revenues from this transaction are linked to three material and ambitious sustainability performance targets (“SPTs”) related to reducing the CO2 footprint. The issuer’s SLB Framework was awarded a B rating by The Governance Group.

The bond pays a coupon of 550 basis points over the 3-month NIBOR down from initial price guidance 3mN+575-600bps and was priced at par. The transaction received strong demand from Tier 1 institutional credit investors across the Nordic region, Continental-Europe and the UK, and was multiple times oversubscribed.

“We are pleased to see the positive response from the investors, recognizing Laker’s contribution to ensuring available and sustainable management of water and wastewater, as well as showing confidence in our business model and growth strategy. The new financial structure will allow us to accelerate our expansion outside the Nordic region, and we are looking forward to take the next step in our development,” says Carl-Johan Callenholm, CEO of Lakers.

Arctic Securities acted as global coordinator, sustainability structuring advisor, and joint lead manager, Pareto Securities, and Swedbank acted as joint lead managers in connection with the placement of the Bond Issue.

Image by PublicDomainPictures from Pixabay

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The coronavirus epidemic has further accelerated the rise of ESG into the investment mainstream. As deficits skyrocket, bond investors have an opportunity to engage with governments on climate change, argues Thomas Dillon, Senior Macro ESG Analyst at Aviva Investors.

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