Serneke received consent from the bondholders in the written procedure to amend the terms and conditions and extend the maturity of its senior unsecured bonds 2018/2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933), AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURES.

Serneke Group AB (publ), reg. no. 556669-4153, (the “Company”) today announces that the written procedure initiated on 4 June 2020 of its maximum SEK 1,000,000,000 senior unsecured callable floating rate bonds 2018/2021 (ISIN: SE0011256338) (the “Bonds”) with SEK 700,000,000 currently outstanding has been successfully concluded.

The written procedure was initiated in order to receive the bondholders’ approval to extend the maturity of the Bonds by 18 months, to remove a liquidity covenant and to make certain other amendments to the terms and conditions for the Bonds as described in the notice of the written procedure. The notice of the written procedure, the amendments and detailed information regarding the voting procedure are available at the Company’s web page (www.serneke.group/en/investor-relations).

A requisite majority of the voting bondholders voted in favour of the request to amend the terms and conditions for the Bonds. The bondholders' consent to amend the terms and conditions for the Bonds were deemed to be approved as of today, 24 June 2020. Accordingly, the agent, Intertrust (Sweden) AB, has today concluded the written procedure initiated by the Company on 4 June 2020.

The terms and conditions of the Bonds have been amended and restated effective from today, 24 June 2020, to reflect the approval of the request (the "Amended and Restated Terms and Conditions". The Amended and Restated Terms and Conditions will be available on the Company's web page on (https://ir.serneke.se/en/bond-issue).

Carnegie Investment Bank AB (publ) and Nordea Bank Abp acted as financial advisors and arrangers and Gernandt & Danielsson Advokatbyrå acted as legal advisor in relation to the written procedure.

For questions relating to the transaction, please contact the arrangers at the following e-mail addresses or telephone numbers:

Carnegie Investment Bank AB (publ)
E-mail: corpbondorig@carnegie.se
Telephone: +46 73 417 89 86

Nordea Bank Abp
E-mail: nordealiabilitymanagement@nordea.com
Telephone: +45 61 612 996

 

For more information, please contact:

Anders Düring, CEO Serneke Group AB
anders.during@serneke.se

Elisabeth Karlsson, Treasury Manager
Elisabeth.Karlsson@serneke.se  

This information is information that Serneke is obliged to disclose pursuant to the EU Market Abuse Regulation and the (2007:528) Securities Market Act. The information was released for public disclosure, through the agency of the contact person above, on 24 June, at 6.00 p.m. (CET).
 

Serneke is a rapidly growing corporate group active in construction contracts and project development. The Group was founded in 2002 and today has income of SEK 6.7 billion and nearly 1,200 employees. Through novel thinking, the Company drives development and creates more effective and more innovative solutions for responsible construction. The Company builds and develops housing, commercial buildings, industrial facilities, public buildings, roads and civil engineering projects, and other infrastructure. The Company’s customers are public and commercial clients. The Company’s operations are nationwide and organized into five regions in Sweden: South, West, East, Mid Sweden and North. Serneke has its headquarters in Gothenburg and offices in Stockholm, Malmö, Alingsås, Borås, Eskilstuna, Halmstad, Helsingborg, Jönköping, Karlstad, Luleå, Norrköping, Skövde, Strömstad, Sundsvall, Trollhättan, Uppsala, Varberg, Växjö and Örebro. The Company’s Class B shares (SRNKE) have been listed on the Nasdaq Stockholm exchange since November 2016.

Further information about Serneke Group AB is available at www.serneke.com