Serneke initiates a written procedure for its senior unsecured bonds 2018/2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933), AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.
Serneke Group AB (publ), reg. no. 556669-4153, (the "Company") is requesting the approval from holders of its maximum SEK 1,000,000,000 senior unsecured callable floating rate bonds 2018/2021 (ISIN: SE0011256338) (the "Bonds") with SEK 700,000,000 currently outstanding to extend the maturity and to amend certain terms and conditions.
In order to extend the Bonds' maturity by 18 months, to remove a liquidity covenant and to make certain other amendments to the terms and conditions of its Bonds, the Company has today instructed the agent, Intertrust (Sweden) AB, to initiate a written procedure for its outstanding Bonds. The notice of written procedure is held available by the agent on its web page, www.intertrustgroup.com and is attached to this announcement and made in accordance with Clause 16 (Written Procedure) of the terms and conditions of the Bonds.
The Company offers certain compensation for the amendments to the terms and conditions to holders of the Bonds as set out in detail in the notice of written procedure.
The applicable voting requirement to approve the request is a quorum of holders representing at least twenty (20.00) per cent. of the adjusted nominal amount and a majority of at least two thirds (2/3) of the adjusted nominal amount for which holders reply in the written procedure consenting to the request, as set out in more detail in the notice of written procedure. Holders of Bonds representing 53 per cent. of the adjusted nominal amount have undertaken to vote in favour of the proposed amendments.
Further information about voting requirements, important dates for the written procedure and compensation is available in the notice of written procedure.
Carnegie Investment Bank AB (publ) and Nordea Bank Abp have been appointed financial advisors and arrangers in relation to the written procedure.
For questions relating to the transaction, please contact the arrangers at the following e-mail addresses or telephone numbers:
Carnegie Investment Bank AB (publ)
E-mail: corpbondorig@carnegie.se
Telephone: +46 73 417 89 86
Nordea Bank Abp
E-mail: nordealiabilitymanagement@nordea.com
Telephone: +45 61 612 996
For further questions to the agent regarding the administration of the written procedure, please contact the agent at trustee@intertrustgroup.com or +46 70 141 10 82.
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