CHR Bygga Bostäder Holding AB (publ) – Approval of request in a written procedure in respect of its bonds
CHR Bygga Bostäder Holding AB (publ) (the "Company") today announces the successful completion of the written procedure in relation to the Company's up to SEK 500,000,000 senior secured bonds with ISIN SE0010023770 (the "Bonds"), regarding certain amendments and waivers in respect of the terms and conditions of the Bonds and a partial redemption against payment by way of issuance of preferential shares (the “Request”). The waivers are effective immediately as of 26 February 2019 while the amendments as well as the partial redemption against payment by way of issuance of preferential shares are conditioned upon certain events occurring. A major shareholder has disbursed subordinated loans totalling SEK 10 million to the Company, in a step to fulfil one of the conditions.The condition relating to the SEK 39.99 million loan to be disbursed to Brf Brandholmen i Nyköping 2 has been fulfilled.
On 31 January 2019 the Company published by way of press release and by notice to its bondholders that it had initiated a written procedure in respect of the Bonds, the details of the Request are set out therein.
A sufficient number of bondholders have participated in the written procedure in order to form a quorum, and a qualified majority of the bondholders have voted for the Request
No bondholder has requested to receive alternative participation instruments instead of preferential shares and consequently no alternative participation instruments will be issued.
The waivers requested by the Company from the bondholders are effective immediately as of 26 February 2019 while the amendments to the terms and conditions as well as the partial redemption against payment by way of issuance of preferential shares are conditioned upon certain events occurring which have been described the formal and detailed notice for the written procedure which is attached to the press release published on 31 January 2019. As previously announced by the Company, an extraordinary general meeting of the shareholders in the Company will be held on Friday 1 March 2019 in order to make the necessary resolutions in the Company.
Furthermore, a major shareholder has disbursed subordinated loans totalling SEK 10 million to the Company, in a step to fulfil one of the conditions for the amendments to the terms and conditions and the partial redemption against payment by way of issuance of preference shares. These loans must in a second and final step be set-off against ordinary shares in the Company, which is subject to a resolution on the extraordinary general meeting described above. In addition, the condition relating to the SEK 39.99 million loan to be disbursed to Brf Brandholmen i Nyköping 2 has been fulfilled. The Company expects to be able to fulfil all conditions ahead of the previously communicated 5 April 2019 provided that the extraordinary general meeting on 1 March 2019 resolve in support of the proposals from the Board of Directors of the Company. A detailed timetable of the implementation of the Request, including the date on which a person must be a bondholder in order to receive preference shares and the allotment date in respect of preference shares, is expected to be published in connection with the extraordinary general meeting.
For further information, please contact:
Bertil Rydevik, acting CEO
Telephone: +46763 145 985
Email: bertil.rydevik@byggabostader.se
This information is information that CHR Bygga Bostäder 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 person set out above, at 18:15 CET on 26 February 2019.