Sunborn (Gibraltar) Limited – Interest payment and strategic overview

Sunborn (Gibraltar) Limited (the "Company") has not been able to pay the interest under the Company's up to EUR 60,000,000 senior secured bonds with ISIN SE0010296632 (the "Bonds") that fell due on 5 June 2024 due to its current liquidity position and cashflow. The Company's owners have expressed an intent to support and the Company will, following receipt of proceeds from its owners, pay the interest as soon as possible.

The Company has also initiated a strategic overview in respect of its business and assets to identify viable solutions to refinance the Bonds, and will also initiate discussions with its bondholders to discuss a waiver in respect of the default that has occurred as a consequence of the non-payment of the interest that fell due on 5 June 2024 and breaches under the financial covenants in the terms and conditions for the Bonds.

There can be no assurance regarding the results or outcome of the strategic overview. Subject to compliance with ongoing disclosure obligations pursuant to applicable laws and regulations, the Company undertakes no obligation to make any further announcements regarding the strategic overview until final decisions are made by the Company.

For further information, please contact:

Hans Niemi, CEO
Telephone: +358 (0)24454513
Email: hans.niemi@sunborn.com

 

Information:

This information is information that Sunborn (Gibraltar) Limited 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 15:00 CEST on 13 June 2024.