Ellis & Winters Directs Opus Inspection, Inc. in Bond Issuance
Ellis & Winters is pleased to announce that its client, Opus Inspection, Inc., has issued a USD $25 million Letter of Credit Backed Bond. The proceeds from the transaction will be used for the refinancing of existing debt and for Opus’ continued expansion.
“Opus is very pleased to have placed its first Letter of Credit Backed Bond. This long-term financing instrument creates high financial flexibility to Opus at an attractive cost structure and will support our growth plan”, said Lothar Geilen, CEO of Opus Group AB (publ).
Kurt Dumaw, corporate partner in Raleigh, said “Ellis & Winters is honored to have served as bond issuer counsel for Opus Inspection and borrower counsel for Opus Group allowing us to continue our ongoing relationship with Opus’ management team, lenders and business partners. We look forward to representing Opus on future projects and assisting its continued growth.”
Opus Inspection, Inc. is a subsidiary of Opus Group AB (publ), a global company in the vehicle inspection and vehicle services markets with approximately SEK 1.7 billion in revenues in 2016. With close to 1,800 employees, Opus Group is headquartered in the Gothenburg region of Sweden and has 26 regional offices with 20 located in the United States. Opus Group shares are listed on Nasdaq Stockholm. For further information, please visit the Opus press release here.