AEROF Sweden Bondco AB (publ) – Financial covenant breaches and entry into standstill agreement

On 23 December 2024, AEROF Sweden Bondco AB (publ) (the "Company") announced that it expected to breach the net interest bearing debt to net value test and the equity to bonds outstanding test in respect of its bonds with ISIN SE0015483151 (the "Bonds") as at the reference date falling on 31 December 2024 (the "Financial Covenant Breaches"). The Company hereby informs that the Financial Covenant Breaches have now been confirmed. The breaches primarily result from further declines in the end-of-year asset valuations of the Company's assets.

The Company has entered into a standstill agreement with bondholders representing more than 50 per cent of the adjusted nominal amount of the Bonds. The Company and the relevant bondholders are in ongoing discussions to find a viable solution to the situation. Pursuant to the standstill agreement, the Company and the relevant bondholders have agreed that the bondholders will not instruct the agent under the Bonds to make any payment demands or take any enforcement actions during such discussions. Pareto Securities Oy is acting as financial advisor to the Company in the matter.

Moreover, the Company confirms that its group is in discussions with a major global institutional investor regarding the sale of the majority of the remaining assets of the Company’s group. A potential transaction may follow and is subject to, among other things, due diligence and contractual negotiations.

For further information, please contact:

Paolo Alonzi

Head of Structuring & Operational Strategy – Alternatives

T: +44 (0)7385 009727

E: paolo.alonzi@abrdn.com

or

Jason Baggaley

Deputy Head of Real Estate Value Add Funds

T: +44 (0)7801 039463

E: jason.baggaley@abrdn.com

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 CET on 28 February 2025.