AS Pro Kapital Grupp initiates written procedure for its senior secured bonds 2020/2024
22 Dezembro 2023 - 11:15AM
AS Pro Kapital Grupp initiates written procedure for its senior
secured bonds 2020/2024
AS Pro Kapital Grupp (hereinafter referred to as the Company)
is requesting the approval from the bondholders of the Company’s
outstanding bonds listed on Nasdaq Stockholm in order to extend the
maturity of the bonds, make certain others amendments to the terms
and conditions and carry out a partial redemption.
The Company is requesting the approval from holders of its
EUR 28,500,000 senior secured callable fixed rate bonds
2020/2024 with ISIN SE0013801172 (hereinafter referred to as the
Bonds) to make certain amendments to the terms and conditions for
the Bonds and certain waivers (hereinafter jointly referred to as
the Request).
In order to receive the holder of Bonds’ approval to the
Request, the Company has today instructed the agent, Nordic Trustee
& Agency AB (publ), to initiate a written procedure for the
Bonds (hereinafter referred to as the Written Procedure) by sending
the notice of Written Procedure including voting instructions to
the direct registered owners and registered authorised nominees of
the Bonds in the Company’s debt ledger held with Euroclear Sweden
as per 21 December 2023. The outcome of the Written Procedure will
be announced by way of a press release in connection with the
termination of the Written Procedure. The voting record date is 3
January 2024 and the last day for voting in the Written Procedure
is 15 January 2024.
As further described in the notice of Written Procedure, the
Request includes approval of certain waivers and amendments to the
terms and conditions for the Bonds including (i) an extension of
the final redemption date of the Bonds by four (4) years, (ii)
increase of the interest rate from the original final redemption
date with three (3) percentage points, (iii) a waiver for the
Company to carry out a partial redemption of Bonds in an amount of
EUR 8,550,000 and (iv) certain other amendments as further set
out in the notice of Written Procedure.
For more information regarding the Written Procedure and a more
detailed description of the Request and the amendments to the terms
and conditions of the Bonds, please see the notice of Written
Procedure on the Company’s website and the Agent’s website.
The applicable voting requirement to approve the Request is, as
set out in more detail in the notice of Written Procedure, (i) that
holders of Bonds representing at least twenty (20.00) per cent. of
the adjusted nominal amount participate in the Written Procedure
and (ii) that two thirds (2/3) of the adjusted nominal amount for
which holders of Bonds reply in the Written Procedure consent to
the Request. The Company has already received undertakings to vote
in favour of the Request from the largest holders of Bonds, which
together represent approximately 75 per cent of the adjusted
outstanding amount under the Bonds.
Further information about voting requirements and important
dates for the Written Procedure is available in the notice of
Written Procedure.
Gernandt & Danielsson Advokatbyrå has acted as legal advisor
in relation to the Written Procedure.
For further questions to the agent regarding the administration
of the Written Procedure, please contact the agent at
voting.sweden@nordictrustee.com or
+46 8 783 79 00.
Edoardo PreatoniMember of the Management Board+372 614
4920prokapital@prokapital.ee
- Pro Kapital - Written Procedure Q4 2023
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