Cabonline Group Holding AB (publ) receives certain waivers from Nordic Trustee & Agency AB (publ) for the purpose of implementing a future refinancing
Cabonline Group Holding AB (publ) (the "Company") receives certain waivers for its refinancing from Nordic Trustee & Agency AB (publ) as agent for holders of the up to SEK 2,000,000,000 senior secured floating rate notes 2017/2020 with ISIN SE0009997075 issued by the Company (the "Notes").
The Company has on 25 November 2019 given a notice of a conditional voluntary total redemption of the Notes on 19 December 2019. The redemption is conditional upon the successful completion by the Company of the issuance of SEK-denominated senior secured floating rate notes (the "New Notes") and the entering into of a new super senior revolving credit facility, in each case prior to 12 December 2019 (the "Record Date") for the purpose of inter alia refinancing the Notes (the "Refinancing"). In order for the Company to carry out the Refinancing, the Company will cancel Notes purchased by the Company from certain holders of the Notes (by way of applying part of the proceeds from the New Notes). The Company will also grant security in favour of the noteholders and the agent under the New Notes over an escrow account (to which the net proceeds from the New Notes (except for proceeds used to purchase Notes) will be paid).
At the request of the Company, Nordic Trustee & Agency AB (publ), acting as agent for the holders of the Notes, has agreed to waive certain provisions in Clause 10.2 (Purchase of Notes by the Issuer) and Clause 13.4 (Market Loans) of the terms and conditions for the Notes for the purpose of allowing such cancellation of notes and such security over the escrow account.
For further information, please contact:
Johan Ryrberg, acting CFO, tel. +46 70 538 76 70
About Cabonline:
Cabonline is the leading taxi company in the Nordic region with 3,000 connected taxi firms and approximately 5,700 vehicles in Sweden, Norway, Finland and Denmark. Cabonline contains a series of well-known brands, such as Flygtaxi, TaxiKurir, Norgestaxi, TOPCAB, Kovanen, Taxi Skåne, Taxi Väst, Umeå Taxi, Sverigetaxi and Taxi 4x27. Through Cabonline, taxi firms have access to attractive customer agreements, support from industry-leading technological development and utilization of economies of scale, efficient service and a shared infrastructure. The Group has revenue of approximately SEK 6.2 billion and performs about 50,000 journeys per day. For further information: www.cabonlinegroup.com.