European Directories BondCo S.C.A. announces the intention to extend the maturity for its EUR 160,000,000 senior secured floating rate bonds
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European Directories BondCo S.C.A., incorporated under the laws of the Grand Duchy of Luxembourg and registered with the Luxembourg trade and companies register under the number B 181401 (the ”Company”), announces a proposal to amend certain terms and conditions of the EUR 160,000,000 senior secured floating rate notes due 2018 (ISIN SE0005505831, the "Bonds") (the “Proposal”). The Proposal requires approval by the holders of the Bonds at a bondholder’s meeting which will be convened via the bond trustee in due course, but no later than 31 March 2018.
The principal terms of the Proposal include an extension to the bond maturity date of 2.5 years to 9 June 2021, an increase in the interest margin of 150bps to 8.5% and cancellation by the Company of those Bonds which it holds. Further details of the other proposed amendments and additional provisions to the Bond Terms and Conditions will be set out in the notice of the meeting. In addition, following receipt of the requisite majority of bondholders voting in favour of the Proposal, the Company will pay a consent fee of 1% to all bondholders.
The Company has received irrevocable undertakings to vote in favour of the Proposal from certain investors, including Kaleva Mutual Insurance Company and Sampo Group’s Mandatum Life Insurance Company Limited, who as per today jointly hold 41.3% of the Bonds not held by the Company, the group and its affiliates. As per today, the Company, the group and its affiliates hold 50.1% of the Bonds which will not be eligible to vote at the Bondholders’ meeting and which will be cancelled immediately following receipt of the requisite majority of bondholders voting in favour of the Proposal.
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European Directories Group is an online partner for SMEs offering local search and lead generation with a scalable business model. The European Directories Group operates through three main brands: Fonecta in Finland, Herold in Austria and DTG in the Netherlands. More information about the European Directories Group can be found at www.europeandirectories.com.
This information is information that European Directories BondCo S.C.A. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:40CET on 30 January 2018.