Esmaeilzadeh Holding initiates a written procedure under its outstanding bond loan and adjusts its financial targets
Esmaeilzadeh Holding AB (”EHAB”) announces that the company has initiated a written procedure to, among other things, extend the tenor of its outstanding bond loan in order to provide time to complete the ongoing divestment of Lyvia before the bond matures. In connection with this, EHAB is updating its financial targets regarding indebtedness, with the objective of fully repaying the existing bond loan during 2025.
EHAB announces that the company has today initiated a written procedure (the “Written Procedure”) among the bondholders of its outstanding bond loan 2022/2025 with ISIN SE0017133564 (the “Bonds”) under the terms and conditions of the Bonds (the “Terms and Conditions”) to request the bondholders’ consent to certain amendments of the Terms and Conditions. EHAB has instructed Nordic Trustee & Agency AB (publ) ( the ”Agent”), in its capacity as agent under the Bonds, to send a notice of the Written Procedure to all direct registered owners and registered authorised nominees of the Bonds in the company’s debt ledger held with Euroclear Sweden as per 2 December 2024.
In the Written Procedure, bondholders are requested, among other things, to consent to an extension of the maturity date of the Bonds until 26 April 2025. This extension is intended to provide additional time to complete the ongoing divestment of Lyvia (as announced in a press release on 5 November 2024). Additionally, bondholders will have the option to further extend the maturity date by an additional three months, subject to approval by a simple majority. The proceeds from a completed divestment of Lyvia will be applied toward repayment of the Bonds.
EHAB is proposing a consent fee of 1 per cent. of the nominal amount of the Bonds, which will be paid to all bondholders if the Written Procedure is successfully concluded. EHAB has had discussions with its largest bondholders and bondholders representing approximately 40 per cent. of the nominal amount have communicated their intention to vote in favour of the proposal.
In light of the aim to complete the sale of Lyvia in early 2025, EHAB is updating its financial targets in connection with the initiation of the Written Procedure. The updated financial target is the full repayment of the existing bond loan during 2025.
Only bondholders who are registered as owners in the company’s debt ledger held with Euroclear Sweden AB as per the record date 10 December 2024 are entitled to vote in the Written Procedure. Please refer to the notice of the Written Procedure, which is published on the company’s website and on the Agent’s website for more information about the Written Procedure, and a more detailed description of the proposed amendments of the Terms and Conditions.
ABG Sundal Collier AB and Pareto Securities AB have acted as financial advisors in connection with the Written Procedure.
For further information, please contact:
Mikael Ericson, CEO
E-mail: mikael.ericson@ehab.group
For media related questions, please contact:
Michaela Abercrombie Simpson, Head of Communications
Phone: +46 736 301 403
This information is such that Esmaeilzadeh Holding 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 persons set out above on 3 December 2024 at 09:35 CET.
About Esmaeilzadeh Holding AB
EHAB is an entrepreneurially driven investment company that invests in and develops resilient companies within selected industries. The primary focus is investments in operational groups with opportunities for both organic and acquisition-based growth. For more information, see www.ehab.group.