Greenfood AB (publ) contemplates issuance of new senior secured sustainability-linked notes
Greenfood AB (publ) (the “Company”) has mandated Pareto Securities AS as sole bookrunner to arrange a series of fixed income investor meetings starting on 11 October 2024 to explore the possibility of issuing new senior secured sustainability-linked notes in an aggregate amount of SEK 1,100,000,000 and a tenor of four years (the “New Notes”).
Contemplated Issue of New Notes
Today, 11 October 2024, the Company announces that it has mandated Pareto Securities AS as sole bookrunner to explore the possibility of issuing New Notes, subject to prevailing market conditions. The proceeds from the contemplated issue of the New Notes are intended to be used to redeem the Company’s outstanding senior secured sustainability-linked floating rate notes 2021/2025 with ISIN SE0017072457 in full (the “Existing Notes”).
In addition, in connection with, and subject to, the issuance of the New Notes, Greenfood MC AB, the direct sole shareholder of the Company, will make an unconditional equity contribution in cash into the Company in an amount of SEK 350 million.
Early Redemption
Subject to a successful issuance of the New Notes, the Company announces that it will exercise its right to make a voluntary early redemption of the Existing Notes, which is conditional upon the Company receiving the proceeds from the issue of the New Notes (the “Early Redemption”). In the event of such Early Redemption, the Existing Notes will be repurchased at a call option price of 101.75% plus 1.00% in accordance with clause 11.3.3 of the terms and conditions of the Existing Notes, along with accrued but unpaid interest up to and including the settlement date of the Early Redemption and will be paid to each person who is registered as owner of Existing Notes as of the applicable record date. A notice of early redemption of the Existing Notes will be sent to directly registered owners of the Existing Notes in connection with such Early Redemption process being initiated and published by the Company by way of a press release.
In connection with the Early Redemption, the Existing Notes will be delisted from the sustainable bond list of Nasdaq Stockholm.
Pareto Securities AS acts as sole bookrunner in respect of the contemplated issue of the New Notes.
For further information, please contact:
Martin Asp, Group CFO
martin.asp@greenfood.se
This information is information that Greenfood 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 08:00 CEST on 11 October 2024.
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