BEWiSynbra announces the results of the written procedures instigated on 9 August 2021
BEWiSynbra Group AB (publ) (the “Issuer”) today announces the results of the written procedures instigated through the agent Nordic Trustee & Agency AB (publ) (the “Agent”) on 9 August 2021 (the “Written Procedures”) relating to its up to EUR 100,000,000 Senior Secured Floating Rate Notes due 2022 (ISIN: SE0010985556) and its up to EUR 115,000,000 Senior Secured Floating Rate Notes due 2023 (ISIN: SE0013409455) (collectively referred to as the “Bonds”).
As further described in the notices of written procedure published by the Issuer and the Agent, respectively, on 9 August 2021 (the “Notices”) and distributed to the holders of the Bonds (the “Bondholders”), the Issuer has proposed that the Bondholders resolve on certain amendments to the respective terms and conditions of the Bonds in order to add an option for refinancing the Bonds in full prior to their respective final maturity date (the “Proposal”).
The Issuer today announces that a requisite majority of consents have been received by the Agent and that the Proposal therefore shall be deemed to be approved by the Bondholders. The amendments to the respective terms and conditions of the Bonds will become effective upon fulfilment of the conditions precedent set out in the Notices.
Subject to market conditions, the Issuer intends to utilise its option to redeem the Bonds early and BEWI ASA, the owner of the Issuer, intends to refinance the Bonds by issuing new senior unsecured floating rate sustainability-linked bonds in an aggregate amount of up to EUR 160,000,000 under a framework of up to EUR 250,000,000 (the “New Bonds”).
Eligible Bondholders that have participated in the Early Voting Offer (as defined in the Notices) will, subject to the terms set out in, and provided the their votes have been submitted in accordance with, the Notices, be eligible to receive priority allocation in the New Bonds and/or an early consent fee in an amount equal to 0.250 per cent. of the nominal amount of each Bond.
For questions regarding the Written Procedures, please contact Nordea Bank Abp at NordeaLiabilityManagement@nordea.com or +45 6161 2996, or the Agent at voting.sweden@nordictrustee.com or +46 8 783 79 00.
For further information, please contact:
Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 975 61 959
Marie Danielsson, CFO BEWI ASA, tel.: +46 70 661 0047
About BEWI ASA
BEWI ASA, the owner of BEWiSynbra Group AB, is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
BEWI ASA is listed at the Oslo Børs under ticker BEWI.
The information was submitted for publication, through the agency of the contact person set out above, at 16:10 CEST on 19 August 2021