HLRE Holding Oyj initiates a written procedure to request further amendments to the terms of its bonds

HLRE Holding Oyj initiates a written procedure to request further amendments to the terms of its bonds

As announced by HLRE Holding Oyj (the "Company") on 5 February 2024, the Company successfully completed a written procedure that was initiated 30 January 2024 in relation to the Company's outstanding SEK 300,000,000 senior secured bond loan with ISIN SE0015530712 (the "Bonds"), regarding certain amendments to the terms and conditions of the Bonds (the "Proposal"). The amendments included i.a. a one-month extension of the maturity of the Bonds to 12 March 2024 in order to provide time to finalize updated documentation for a solution for the Company’s long-term financing.

 

Today, the Company has instructed the agent for the Company's Bonds, Nordic Trustee & Agency AB (the “Agent”), to initiate a written procedure to request that bondholders vote in favour of further amendments to the terms and conditions of the Bonds (the “Written Procedure”) to achieve the aforementioned long-term financing solution. The largest holder of the Company’s bonds, holding approximately 66.67 per cent. of the outstanding nominal amount of the Bonds (the "Majority Holder"), has agreed to vote in favour of such amendments. More information on the background and the proposed amendments, including an investor presentation containing certain financial updates, can be found in the notice of a written procedure is available on the Company's website (www.vesivek.fi/en/investors/) and on Stamdata (www.stamdata.com).

 

The Agent will deliver the notice of a written procedure to all bondholders on 1 March 2024. The written procedure will end on 22 March 2024. To be eligible to participate in the written procedure a holder must fulfil the formal criteria for being a bondholder on 4 March 2024. This means that the holder must be registered on a securities account with Euroclear Sweden AB as a direct registered owner (Sw. direktregistrerad ägare) or authorised nominee (Sw. förvaltare) with respect to one or several Bonds.

 

Pareto Securities Oy has been retained as financial advisor in connection with the written procedure.

 

 

For additional information, please contact:

Jari Raudanpää

CFO

+358 40 566 6399

jari.raudanpaa@vesivek.fi

 

Important information:

This information is by HLRE Holding Oyj required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on 1 March 2024 at 18.35 EET.