Global Scanning gives notice of early redemption of bonds with ISIN SE0007783949 and obtains a waiver from the bond agent25 September 2019, 13:00 CET
On 24 September 2019, it was announced that Global Scanning A/S (“Global Scanning” or the “Group”) has entered into a facility agreement (the “Facility Agreement”) relating to a SEK 235,000,000 term loan with Scandinavian Credit Fund I AB (publ), to be partly used to refinance Global Scanning’s outstanding bonds 2015/2019 with ISIN SE0007783949 (the “Bonds”) and that Global Scanning, in connection with drawdown under the Facility Agreement, intends to redeem the Bonds in full. Therefore, Global Scanning now gives notice of early redemption of the Bonds in full and announces that it has obtained a waiver from the Bond agent to inter alia incur the debt under the Facility Agreement.
On 25 September 2019, Global Scanning sent an irrevocable notice of early redemption to all directly registered owners and registered authorised nominees (Sw. förvaltare) in the debt register for the Bonds kept by Euroclear Sweden as of 24 September 2019. The early redemption date is set to 28 October 2019. In accordance with the terms and conditions for the Bonds, the Bonds will be redeemed at an amount equal to 100.00 per cent. of the nominal amount (i.e. SEK 1,000,000 per Bond).
The redemption amount, together with accrued and unpaid interest up to and including the early redemption date, will be paid to each person who is registered as owner of Bonds in the debt register maintained by Euroclear Sweden at end of business on 21 October 2019. In connection with the redemption, the Bonds will be delisted from Nasdaq Stockholm.
In connection with the entering into of the Facility Agreement, Global Scanning has further requested that the Bond agent consents to a waiver of the terms and conditions of the Bonds, entailing that Global Scanning may incur the debt under the Facility Agreement, although such debt constitutes “Financial Indebtedness” which is not “Permitted Debt” under the terms and conditions. Global Scanning has also requested that the Bond agent consents to a waiver enabling Global Scanning to secure the debt incurred under the Facility Agreement by way of second ranking pledges and charges over certain shares and intercompany loans, which have already been pledged in favour of the agent and the bondholders pursuant to the existing security documents. The Bond agent has granted the requested waivers, conditional upon that the Bonds are redeemed in full pursuant to the above. A notice of waiver will be sent by the Bond agent on 25 September 2019 to bondholders directly registered as of 24 September 2019 in the debt register kept by Euroclear Sweden. The notice will also be available at Global Scanning’s website.
This press release is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of the Group.
About this information
The information was submitted for publication, through the agency of the contact person set out below, at 13:00 CEST on 25 September 2019.
Global Scanning A/S Graham Tinn, CEO
Svanevang 2, 3450 Allerød Tel: 0045 48141122, Mail: email@example.com
Tel: 0045 48141122
The Group develops, manufactures and markets large-format scanning solutions for the computer-aided design (CAD), geographic information systems (GIS), reprographic products, copy services and document archiving segments under the brand names of Contex and Colortrac respectively. The scanners digitally capture documents, drawings and other 2D input in order to view, edit, archive, convert or print output data.
The group's products are sold across the world through a value-add distribution network and via OEM agreements with major multinational enterprises within the Large Format Printing industry.