Pareto Securities: High primary market activity underlines improved sentiment in the Nordic High Yield Bond market. Pareto underpins role as leading arranger in the market

Frankfurt, April 26, 2023. Pareto Securities AS, an international investment bank headquartered in Oslo and a long-standing partner to the mid-market in Scandinavia and Germany, again impressively underpinned its leading position in the Nordic High Yield Bond market in the first three months of 2023. In Q1 2023, Pareto Securities achieved a market share of 45% in the overall market (Q1 2022: 22%). In Euro-denominated Nordic High Yield Bonds, Pareto Securities even recorded a market share of 66% (Q1 2022: 48%).

The Nordic High Yield Bond market saw strong activity in the first three months of 2023, spurred by a cautiously optimistic market sentiment. This resulted in an increase in primary volume of around 41% to approximately EUR 3.1 billion in Q1 2023 (Q1 2022: EUR 2.2 billion), which constitutes the second-best first quarter in the market's history. As a result, several significant transactions were successfully priced, including the largest transaction to date in the Nordic High Yield Bond market with a volume of EUR 750 million to finance the acquisition of Danish logistics company Scan Global Logistics by private equity investor CVC Partners. Pareto acted as the Sole Coordinator and Bookrunner in this landmark transaction.

Nordic High Yield Bonds totalling EUR 325 million from two transactions were listed on the Frankfurt Open Market in the first quarter of 2023. The first transaction was a new senior secured bond by Swedish-German gaming and advertising software company Media & Games Invest with a volume of EUR 225 million. The second transaction was a senior secured bond by German investment company Mutares with a volume of EUR 100 million, which was placed in a format combining a Nordic Bond private placement and a public (exchange) offer targeted at retail investors in Germany and Luxembourg. Pareto Securities acted as a Joint Bookrunner for both transactions.

Lutz Weiler, CEO Pareto Securities Germany, comments: "In recent months, we benefitted from the dynamic development in the Nordic High Yield Bond market and once again underpinned our position as the leading Nordic High Yield Bond arranger. After a challenging 2022 characterized by uncertainties, we observed a significant upswing in market activity since the beginning of the year, despite the short-lived tensions in the banking sector. Some issuers successfully took advantage of the improved market sentiment for their planned entry into the capital markets. We are proud that we were able to accompany attractive growth companies such as Mutares for the fourth time and Media & Games Invest for the ninth time in their bond issues. This trust highlights our distinctive expertise in advising and implementing financing solutions for domestic medium-sized companies.”
 

About Pareto Securities
Founded in 1986, Pareto Securities is headquartered in Norway and has offices in Denmark, Finland, Sweden, Germany, the UK, Switzerland, the US, Singapore, and Australia. Pareto Securities has a leading position in the Nordic financial markets and a strong international presence. Pareto Securities offers a wide range of financial services, including equity and fixed income brokerage, equity, debt and project finance, and advisory services related to mergers and acquisitions and restructuring.