AEROF Sweden Bondco AB (publ) – Approval of written procedure and amendments to the terms and conditions of the bonds
AEROF Sweden Bondco AB (publ) (the "Company") today announces the successful completion of the written procedure that was initiated 3 June 2024 in relation to the Company's outstanding up to EUR 100,000,000 senior unsecured bonds with ISIN SE0015483151 (the "Bonds"), regarding certain amendments and waiver to the terms and conditions of the Bonds.
The proposed waivers include (i) waiving the equity to bonds outstanding covenant for the reference dates occurring on 31 December 2023 in relation to the audited financial report for the financial year ending on 31 December 2023 (the "Financial Statements") and 31 March 2024 in relation to the interim unaudited report for the quarter ending on 31 March 2024 and in each case any event of default occurring as a consequence of such covenant breach (ii) the Issuer's obligation to publish the Financial Statements for a period of up until 15 business days after the finalisation of the written procedure and any event of default occurring as a consequence of the delayed publication of the Financial Statements and (iii) the Issuer's obligation to publish the interim unaudited report for the quarter ending on 31 March 2024 provided that such report is published by 30 June 2024, each in accordance with the further details specified in the notice of the written procedure (the "Waiver Proposal").
The proposed amendments include (i) making certain changes to the maintenance test (ii) amending the definition of "Bonds Outstanding" and (iii) adjusting the undertaking relating to the annual management fee so that such fee shall be payable in kind and subordinated to the Bonds or converted to equity in the fund, each in accordance with the further details specified in the notice of the written procedure (together with the Waiver Proposal, the "Proposal").
A sufficient number of bondholders participated in the written procedure in order to form a quorum, and a requisite majority of the bondholders voted in favour to approve the Proposal.
The waivers shall become effective as of the date hereof. The amendments shall become effective when the Company and the agent enters into an amendment and restatement agreement, amending and restating the terms and conditions of the Bonds substantially in the form set out in schedule 3 of the notice of written procedure.
Pareto Securities Oy has been retained as financial advisor in connection with the written procedure.
For additional information, please contact:
Paolo Alonzi
Head of Structuring & Operational Strategy – Alternatives
T: +44 (0)7385 009727
Or
Jason Baggaley
Deputy Head of Real Estate Value Add Funds
T: +44 (0)7801 039463
This information is information that AEROF Sweden Bondco AB (publ) 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 17:30 CEST on 1 July 2024.