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 5 March 2025 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 and amendments include (i) a waiver in relation to any event of default which has or will occur as a result of the covenant breach as disclosed by the Company on 28 February 2025, (ii) a delisting of the Bonds, (iii) an amendment of the undertaking to publish the financial reports on the website of the Group, (iv) an amendment of the notice period for any future written procedures and (v) an amendment to Clause 12.1 (Maintenance Test) of the terms and conditions of the Bonds in order remove the undertaking that the Issuer shall procure that the net interest bearing debt to net value is below 75.00 per cent. for the test date falling on 30 June 2024 and each subsequent test date and that the equity to Bonds outstanding exceeds 1.25:1, each of which is further described under Clause 2 (Amendments and waivers of the Terms and Conditions), each of which is further described in the notice to the written procedure (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. As approved by the holders of the Bonds in the written procedure, the Bonds will be delisted from the Frankfurt Stock Exchange Open Market (Freiverkehr) and the corporate bond list of Nasdaq Stockholm in connection with the amendment and restatement of the terms and conditions of the Bonds.
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 16:00 CEST on 31 March 2025.