First Camp taps bonds for $47.8M to fuel acquisition drive
What's the deal? First CampDealroom has a profile for this one. Try Dealroom → Group, a Nordic camping and resort operator, has completed a US$56.8M (roughly $47.8 million) subsequent bond issue under its existing senior secured bonds. Nordea Bank acted as sole bookrunner, with settlement expected on November 20, 2026.
The terms: The bonds priced at 102.325% of nominal value, carrying a floating rate of three-month STIBOR plus 346.9 basis points. Shareholders will add about US$9.67M in new equity alongside the issue.
What's the money for? Proceeds will refinance existing debt and fund acquisitions — so this is as much a balance-sheet move as a growth play.
Why now? The tap follows a rapid, deal-led expansion. In October, First Camp said purchases of four sites in southern Sweden would bring its network to 97 destinations.
What's the endgame? First Camp is consolidating camping and resort sites across Northern Europe, including recent moves into Norway, Germany, and Denmark. The fresh debt keeps that acquisition engine running.
The signal: This raise is a step-up from the company's previous round, a sign of continued appetite among debt investors for cash-generative, roll-up-style operators in the Nordic hospitality sector.
Read more: news.cision.com
Image credit: Szeto Clan
