# Calviks AB Refinances Debt With SEK 650 Million Bond Issue to Fund Norwegian Acquisitions

- URL: https://stocks.freetheai.org/news/calviks-ab-refinances-debt-with-sek-650-million-bond-issue-to-fund-norwegian-bf6eb7
- Published: 2026-10-12T05:30:00Z
- Category: company_news; sentiment: bullish; impact: high
- Symbols: [OMXSTO:CALVIK](https://stocks.freetheai.org/symbols/OMXSTO-CALVIK)
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Workforce solutions company Calviks AB (OMXSTO:CALVIK) has issued SEK 650 million in new senior secured bonds under a total framework of SEK 1.2 billion. The three-year bonds carry a floating interest rate of three-month STIBOR plus 8.0 percentage points. Proceeds will replace existing debt of SEK 295 million, which carried an effective annual interest rate of 19.5 percent.

The transaction substantially lowers the company's cost of capital, allowing it to double its bond financing while increasing annual interest expenses by only about SEK 8 million at current rates. The capital raised will finance five Norwegian acquisitions: Subshore, Drift Sør, Atrium People, NøkkelPersonell, and Safe Bemanning. These acquisitions contribute approximately SEK 1.4 billion in revenue and SEK 119 million in EBITDA annually, bringing total pro forma annual revenue to over SEK 3.5 billion and EBITDA to SEK 231 million.

The expansion puts Calviks AB ahead of its stated financial targets for 2027. Investors will watch the integration of these entities into Norwegian platform Norvika, as well as future potential bond drawdowns under the remaining framework for further Nordic expansion. Shares of Calviks AB traded down 2.87 percent at 67.8 SEK following the announcement.

## Key points

- Calviks AB issued SEK 650 million in new three-year senior secured bonds at STIBOR plus 8.0 percentage points.
- The bond issue replaces SEK 295 million of existing debt that carried a 19.5 percent interest rate.
- Proceeds will finance five acquisitions in Norway, adding SEK 119 million in annual EBITDA.
- Completion brings pro forma annual revenue above SEK 3.5 billion, placing the company ahead of its 2027 targets.

## Questions and answers

### Why did Calviks AB issue new senior secured bonds?

Calviks AB issued SEK 650 million in new bonds to refinance existing higher-cost debt and finance five staffing and recruitment acquisitions in Norway.

### How do the acquisitions impact Calviks AB's financial targets?

The acquisitions add SEK 1.4 billion in annual revenue and SEK 119 million in EBITDA, pushing pro forma annual revenue above SEK 3.5 billion and placing the company ahead of its 2027 targets.

### What are the borrowing terms for the new Calviks AB bonds?

The new bonds have a three-year tenor with a floating interest rate of three-month STIBOR plus 8.0 percentage points under a SEK 1.2 billion framework.