YA Holding initiates a written procedure under its outstanding bond loan

As announced through press release on 4 September 2023, YA Holding AB’s (publ) (“YA Holding” or the “Company”) subsidiary YrkesAkademin AB has applied for company restructuring (Sw. företagsrekonstruktion) (the “Restructuring”). In parallel with the decision to apply for the Reorganisation, the Company has reached an agreement with a group of bondholders (the “Bondholder’s Committee”) under the Company’s senior secured social sustainability-linked bonds in an amount of SEK 480 million within a framework of SEK 650 million with ISIN SE0016831150 (the “Bonds”) regarding, inter alia, certain amendments to terms and conditions of the Bonds (the “Terms and Conditions”) for the purpose of financing the Restructuring in YrkesAkademin AB.

The Bondholder’s Committee represents approximately 53 percent of the adjusted nominal amount under the Bonds and the agreement with the Bondholder’s Committee entails (i) that certain participants in the Bondholders’ Committee undertake to contribute loan financing up to SEK 34 million nominally (approx. SEK 32.3 million in cash after so-called Original Issue Discount) which will rank senior to the Bonds, to mainly be down streamed to YrkesAkademin AB and used for financing of the Restructuring (the “Restructuring Loan”), (ii) an undertaking by the Bondholder Committee to approve a waiver of certain terms of the Bonds, including that the Restructuring shall not constitute an Event of Default under the Bond Terms, and to approve certain changes to the Bond Terms (including an extension of the existing interest free periods until 17 September 2024), and (iii) that the Company shall enter into an intercreditor agreement for the purpose of ensuring that the Restructuring Loan is granted the agreed seniority (jointly referred to as the “Amendment Proposals”).

YA Holding announces that the Company has today initiated a written procedure (the “Written Procedure”) under the Terms and Conditions for the purpose of obtaining the bondholders formal approval to amend the Terms and Conditions in accordance with the Amendment Proposal.

The Company has today instructed Nordic Trustee & Agency AB (publ) (the “Agent”), in its capacity as agent under the Bonds, to send a notice of Written Procedure including voting instructions to the direct registered owners and registered authorised nominees of the Bonds in the Company’s debt ledger held with Euroclear Sweden as per 12 September 2023. The notice of Written Procedure is available on the Company’s website and on the Agent’s website.

The outcome of the Written Procedure will be announced by way of press release in connection with the termination of the Written Procedure. The voting record date is 20 September 2023 and the last day for voting in the Written Procedure is 2 October 2023. The Written Procedure may however be terminated before the expiry of the time period for replies if a requisite majority has been obtained prior thereto.

For questions regarding the administration of the Written Procedure, documentation or the voting procedure, please contact the Agent at voting.sweden@nordictrustee.com or on +46 8 783 79 00.

Gernandt & Danielsson Advokatbyrå KB has been retained as legal counsel in connection with the above.

The information was submitted for publication, through the agency of the contact person, on 2023-09-13 16:10 CET.

For further information, please contact:

CEO

YA Holding AB (publ)

Att. Martin Modig

Tel.: +46 (0) 72 369 66 80

E-post: martin.modig@ya.se