DDM Debt announces the successful completion of its Written Procedure and amendments to the terms and conditions of the Bonds
DDM Debt AB (Nasdaq Stockholm: DDM2) ("DDM Debt") today announces the successful completion of the written procedure (the "Written Procedure") that was initiated on 18 February 2020 in relation to its up to EUR 150,000,000 senior secured floating rate bonds due 2022 (ISIN SE0012454940) (the "Bonds") (the "Bondholders") regarding certain amendments to the terms and conditions of the Bonds, as specified in the notice of Written Procedure dated 19 February 2020 (the "Proposals"). The last time and day for the Bondholders to vote on the Proposals was 17.00 (CET) on 16 March 2020.
In the Written Procedure a quorum of 68.30 per cent. of the adjusted nominal amount and a majority of 89.90 per cent. of the adjusted nominal amount for which Bondholders replied in the Written Procedure were achieved and the Proposals were therefore passed.
DDM Debt will pay a consent fee to the eligible Bondholders amounting to EUR 250 per bond (the "Consent Fee"). The Consent Fee will be payable to all persons who are registered as bondholders in the debt register kept by Euroclear Sweden on 18 March 2020 and the payment of the Consent Fee is expected to be made five (5) business days thereafter through Euroclear Sweden's account-based system.
The amendments are effective as of 16 March 2020.
For further information, please contact:
Henrik Wennerholm, Chief Executive Officer
Tel: +41 79 539 88 59
Fredrik Olsson, Chief Financial Officer
Tel: +41 79 331 30 17
This information is information that DDM Debt 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 18.00 CET on 16 March 2020.
DDM Debt AB (publ) (Nasdaq Stockholm: DDM2) is a wholly owned subsidiary of DDM Holding AG. DDM Holding AG (First North Growth Market: DDM) is a multinational investor in and manager of distressed assets. Since 2007, the DDM Group has built a successful platform in Southern, Central and Eastern Europe, and has acquired 2.3 million receivables with a nominal value of over EUR 4 billion.