Troax Group AB (publ) to redeem its outstanding bonds in their entirety
Press release, Hillerstorp 15 May 2017, 08:30 CET
Troax Group AB (publ) (the “Company”) has given notice that it is exercising its option for early voluntary redemption in full of the Company’s maximum EUR 100,000,000 senior secured callable floating rate bonds 2014/2020 with ISIN: SE0005799194 (the “Bonds”), and has given notice of this to all holders of the Bonds.
The date on which the redemption of the Bonds will occur will be 12 June 2017. The total outstanding amount of the Bonds is EUR 76,958,600. All Bonds will be redeemed at an amount equivalent to 103.00 per cent of the Bonds nominal amount together with accrued but unpaid interest from but excluding the preceding interest payment date up to and including the redemption date 12 June 2017.
The payment of the redemption amount will be disbursed to Bondholders who on the record date, which will be 2 June 2017, are registered as owners of the Bonds in the debt ledger produced by Euroclear Sweden AB.
In connection with the early voluntary redemption, the Bonds will be delisted from the corporate bond list at Nasdaq Stockholm.
This notice of early voluntary redemption is irrevocable and is governed by Swedish law.
The early redemption of the Bonds will result in an additional fee for the Company in the amount of circa MEUR 2.3, however, the redemption will reduce the Company’s financing costs by circa MEUR 3.4 during the coming 12 month period.
The complete notice to the holders of the Bonds is published on the Company’s website.
For additional information, visit www.troax.com or contact:
Thomas Widstrand, CEO, +46 (0)370-828 31, firstname.lastname@example.org
About this information:
This information is information that the Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person above, on 15 May 2017, at 08:30 (CET).
President and CEO
Troax Group AB
335 04 Hillerstorp
Tel 46 (0)370-82831
Troax is the leading global supplier of indoor perimeter protection (“metal-based mesh panel solutions”) for the market segments: Machine guarding, Warehouse partitioning and Property Protection. Troax develops high quality and innovative safety solutions to protect people, property and processes.
Troax Group AB (publ), Reg. No. 556916-4030, has a global organisation with a strong sales force and efficient logistics setup, enabling local presence and short delivery times in 36 countries.
In 2016 Troax net sales amounted to 116 MEUR and the number of employees amounted to 600 persons. The Company’s head office is located in Hillerstorp, Sweden.