Nordic Logistics Fleet Expansion

The Nordic Logistics raise financed a 40-unit expansion of a profitable cold-chain trucking fleet serving long-term contracts with two national grocery groups.

The Opportunity

The operator has been profitable for nine consecutive years and secured new route contracts that required rapid fleet growth. The raise funded the vehicles directly — asset-backed exposure with contracted utilisation from day one.

• 40 new refrigerated units added to a fleet of 130
• Route contracts with 5-year minimum volume commitments
• Vehicles held in a security SPV for the benefit of investors
• Fixed coupon of 9.5% per annum, paid quarterly

Outcome

The offering was fully subscribed in 19 days. It remains listed here as a reference for the structure and reporting standard investors can expect from comparable future cases.

Reporting

Investors receive quarterly utilisation and covenant reports, with annual audited accounts of the borrowing group.