K2A KNAUST & ANDERSSON FASTIGHETER AB - an inclusion of a prohibition to make any payment of dividend to the Company's shareholders (including dividend on both ordinary shares and preference shares), as long as the Notes remain outstanding;
-
an inclusion of a prohibition to make any repayment of principal or pay any interest under the Company's capital securities (i.e. the Company's outstanding
SEK 450,000,000 subordinated perpetual green floating rate callable capital securities with ISIN SE0015407507), meaning that such interest payments will be deferred in accordance with the terms and conditions of the capital securities as long as the Notes remain outstanding; -
an extension of the Notes' respective original maturity date (the "Original Maturity Dates") with 1.25 years i.e. the new respective extended maturity date shall be
1 September 2025 (for Notes under note series 101),1 July 2026 (for Notes under note series 102) and18 March 2026 (for Notes under note series 103) (the "Extended Maturity Dates"); - an increase of the applicable margin, with effect from each Note's Original Maturity Date, from 3.25 percent per annum (for Notes under note series 101), 3.00 percent per annum (for Notes under note series 102) and 4.40 percent per annum (for Notes under note series 103) to 7.00 percent per annum (applicable on all Notes);
- an increase of the final redemption prices at the Extended Maturity Dates of the Notes;
-
an inclusion of mandatory partial redemption obligations pursuant to which the Company shall, inter alia, prior to
1 January 2025 partially redeem the Notes pro rata in an amount of not less thanSEK 400,000,000 ; and - an amended call structure to incentivise and enable the Company to make voluntary prepayments of the Notes (in part or in full) before the Extended Maturity Dates.
K2A has today instructed
Noteholders representing approximately 60.9 percent of all Notes' aggregated outstanding nominal amount have confirmed that they intend to vote in favour of the Company's proposal (however, the percentage of noteholders who have confirmed that they will vote in favour of the proposals varies for each respectively note series). The Company offers a consent fee (corresponding to 0.5 percent of the nominal amount of each Note) to each holder of Notes if the Company's proposals (as described in the Notices) are approved and certain other conditions are met. In addition, and subject to satisfaction of certain conditions as set out in the Notices, an early bird fee (corresponding to 0.5 percent of the nominal amount of each Note) will be paid to the holders of Notes who submitted a valid vote no later than
The outcome of the Written Procedures will be announced by way of press release in connection with the conclusions of the Written Procedures. The record date for voting in the Written Procedures is
For questions relating to the proposals in the Written Procedures, please contact the Company.
For questions regarding the administration of the Written Procedures, documentation and voting procedure, please contact the Agent at voting.sweden@nordictrustee.com or on +46 8 783 79 00.
This disclosure contains information that
For further information:
https://news.cision.com/k2a-knaust---andersson-fastigheter-ab/r/k2a-initiates-written-procedures-for-its-outstanding-medium-term-notes-issued-under-its-mtn-programm,c3984617
https://mb.cision.com/Main/12007/3984617/2808693.pdf
(c) 2024 Cision. All rights reserved., source
