Commentary & Deal Flow

• Price Progression:
  • Final terms: E+300bps / Par
  • Final price talk: E+300-312.5bps (WPIR) / Par
  • Price talk: E+325bps area (+/-12.5bps) / 0% floor / Par
  • IPT: E+325-350bps / 0% floor / Par
• Issuer: Assemblin Caverion Group AB (publ)
• Ticker: ASSEMB
• Size: EUR1.53bn (up from min. EUR1bn)
• Format: Reg S / 144A
• No Reg Rights: 144A/Reg S for life
• Security: Senior Secured Floating Rate Notes
• Issue Ratings: B1 / B+ (stable/stable)
• Maturity: 7y
• Optional Redemption: 7NC1 / Par
• Denominations: 100kx1k
• Reg S Common Code: 348994182
• Reg S ISIN: XS3489941826
• 144A ISIN: XS3489941743
• 144A Common Code: 348994174
• Listing: The International Stock Exchange
• Law: New York Law
• Joint Global Coordinators and Physical Bookrunners: Danske Bank, Goldman Sachs Bank Europe SE, JPM (B&D)
• UOP: along with EUR8m cash on hand, to fund a EUR750m Shareholder distribution. Proceeds of the upsize to be used to fully refinance (from partially refinance) existing EUR780m Senior Secured Floating Rate Notes due 2031
• Equity sponsor: Triton
• Biz: The largest multi-technical services provider in Northern Europe, with #1 positions in Sweden, Finland, and Norway and top 5 positions in Denmark, Germany, and Austria
• HQ: Stockholm, Sweden
  Marketing:
• Investor Call: Monday 14th September 2026 @ 11:00 UKT
• Fixed income investor meetings: Monday 14th, Tuesday 15th, Wednesday 16th September 2026
• Books closed: 13:00 UKT 16-September-2026
• Reconfirmations were due: 14:30 UKT Today
• Pricing: Pricing and allocations to follow

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