Circular Tire Services Europe Holding (CTS Group) has completed the inaugural issuance of senior secured bonds totalling 1.3 billion Swedish krone (£93.717 million; 112.176 million euros; US$118.491 million). Net proceeds from the bond issue will be used to “refinance existing debt and for general corporate purposes” including mergers and  acquisitions, with company representatives saying the financing provides a “foundation for future growth driven by M&A and organic initiatives.”