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 (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") today announces that the written procedure initiated on 4 June 2020 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 has been successfully concluded.
The written procedure was initiated in order to receive the bondholders' approval to extend the maturity of the Bonds by 18 months, to remove a liquidity covenant and to make certain other amendments to the terms and conditions for the Bonds as described in the notice of the written procedure. The notice of the written procedure, the amendments and detailed information regarding the voting procedure are available at the Company's web page (www.serneke.group/en/investor-relations).
A requisite majority of the voting bondholders voted in favour of the request to amend the terms and conditions for the Bonds. The bondholders' consent to amend the terms and conditions for the Bonds were deemed to be approved as of today, 24 June 2020. Accordingly, the agent, Intertrust (Sweden) AB, has today concluded the written procedure initiated by the Company on 4 June 2020.
The terms and conditions of the Bonds have been amended and restated effective from today, 24 June 2020, to reflect the approval of the request (the "Amended and Restated Terms and Conditions". The Amended and Restated Terms and Conditions will be available on the Company's web page on (https://ir.serneke.se/en/bond-issue).
Carnegie Investment Bank AB (publ) and Nordea Bank Abp acted as financial advisors and arrangers and Gernandt & Danielsson Advokatbyrå acted as legal advisor 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
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STABLE IN A SHRINKING MARKET