Cimco Marine AB (publ) initiates written procedure to obtain the bondholders’ approval for a waiver in respect of certain terms in its up to MSEK 200 bonds

Cimco Marine AB (publ) (”Cimco”) has today initiated a written procedure to obtain the bondholders’ approval for a waiver in respect of certain terms in its up to MSEK 200 (or its equivalent in NOK and EUR) Senior Secured Callable Fixed Rate Bonds with ISIN SE0010831545, SE0010831594 and NO0010815442. 

The proposed waiver means that Cimco will be allowed to (i) take up unsubordinated loans under the credit facility agreement entered into between Cimco and the European Investment Bank (the “EIB”) on 5 July 2019 (as communicated by press release the same day) and (ii) prepay and repay the loans from the EIB (incl. interest).  

The notice of written procedure will be sent to the bondholders by the agent Intertrust (Sweden) AB and is available on Cimco’s website (www.oxe-diesel.com) and on the agent’s website (www.intertrustgroup.com). 

Certified Adviser
FNCA Sweden AB is Certified Adviser for Cimco Marine AB (publ). Contact details to FNCA Sweden AB: tel. +46 8 528 00 399, e-mail info@fnca.se.

For further information, please contact:
Myron Mahendra, CEO, myron.mahendra@oxe-diesel.com, +46 76 347 59 82
Anders Berg, Chairman, anders.berg@oxe-diesel.com, +46 70 358 91 55

Cimco Marine AB (publ) is obligated to make this information 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 5 July 2019 at 14.40.

Cimco Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high-power segment. Cimco’s unique patented engine-to-propulsion power transmission solutions have led to high demand for the company’s engines worldwide.

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OXE Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world´s first diesel outboard engine in the high-power segment. OXE Diesel has a unique belt driven propulsion system that allows a hydraulic multi-friction gearbox to be mounted. This means that the engine can handle significantly higher loads than a traditional outboard engine. OXE Marine´s OXE diesel has a horizontally mounted engine as opposed to a traditional outboard with a vertically mounted engine.