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)
Telephone: +46 73 417 89 86
Nordea Bank Abp
Telephone: +45 61 612 996
For further questions to the agent regarding the administration of the written procedure, please contact the agent at firstname.lastname@example.org or +46 70 141 10 82.
Serneke to develop women’s correctional institution outside Gothenburg
Serneke has signed a collaboration agreement with Specialfastigheter to develop the Sagsjön women’s ...;
Serneke to construct courthouse in Jönköping
Serneke, Castellum and the Swedish Courts have signed a turnkey contract to construct a courthouse f...;
Serneke to construct 92 apartments in Halmstad for Rikshem
Serneke has signed a contracting agreement with Rikshem in Halmstad to construct 92 apartments in th...;
Serneke to construct 206 apartments in Orminge
Serneke and Magnolia Bostad have signed an agreement to construct 206 apartments and an assisted liv...;
Serneke signs land allocation agreement with the municipality of Växjö
Serneke has won a land allocation competition for the Dörren 4 property in the Vikaholm area of Växj...;
Serneke signs letter of intent regarding on development of Motala's urban area
Serneke has signed a letter of intent with the municipality of Motala and municipal company AB Wette...;
Serneke presents new business plan and announces Capital Markets Day
Serneke has set out a new business plan extending until 2025 and has adopted new long-term financial...
Interim report January-June 2020
HISTORICALLY STRONG ORDER BACKLOG
Serneke received consent from the bondholders in the written procedure to amend the terms and conditions and extend the maturity of its senior unsecured bonds 2018/2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (...