Scandic Hotels Group AB (publ) has announced the conversion of SEK 176.5 million of its convertible bonds into shares. This conversion follows the issuance of convertible bonds totaling SEK 1,800 million in 2021. As a result of this conversion, the total nominal amount of outstanding convertible bonds now stands at SEK 992.8 million.
Scandic is the leading hotel company in the Nordic countries, boasting a network of approximately 280 hotels with 58,000 rooms in operation and under development across over 130 destinations. The company is known for its commitment to sustainability, evident in its award-winning Design for All concept, which ensures accessibility for everyone. Scandic’s loyalty program, Scandic Friends, is the largest in the Nordic hotel industry and is beloved by both guests and employees. The company is recognized as one of the region’s most attractive employers, reflecting its dedication to providing an exceptional experience for both its staff and its guests.
The conversion of these bonds into shares demonstrates Scandic’s financial strength and its commitment to managing its debt effectively. This positive development is likely to further strengthen the company’s position in the market and contribute to its continued success.
