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Wästbygg Gruppen AB (publ) receives consent from bondholders to amend the terms and conditions for its outstanding senior unsecured green bonds
Wästbygg Gruppen AB (publ) (the “Company”) announces that the written procedure initiated through a notice to the bondholders on 14 August 2023 (the “Written Procedure”) to request certain amendments in relation to the financial covenants in the Company’s outstanding senior unsecured green bonds 2021/2024 with ISIN SE0016798227 (the “Bonds”), has today been completed.
The quorum was reached and a requisite majority of the voting bondholders voted in favour of the Company’s requests under the Written Procedure. The bondholders have therefore consented to the removal of the financial covenant interest coverage ratio and an adjustment upwards of the level of the financial covenant equity ratio and that the Company shall amortize in total SEK 100 million no later than at the end of the first quarter 2024, whereof at least SEK 50 million shall be amortized no later than at the end of the financial year 2023, as well as that the Company’s option to make share distributions for the remaining term of the Bonds shall be omitted.
The request under the Written Procedure became effective at 15:00 CEST today 31 August 2023 in conjunction with the expiry of the voting period of the Written Procedure.
Swedbank AB (publ) has acted financial adviser and Gernandt & Danielsson Advokatbyrå KB has acted legal counsel in relation to the Written Procedure.
For more information, please contact:
Jonas Jönehall, CEO
Ph +46 739-20 19 01
e-mail jonas.jonehall@wastbygg.se
Jessica Gårdmo, CFO
Ph +46 73 467 26 15
e-mail jessica.gardmo@wastbygg.se
wbgr.se
About Wästbygg Group:
Wästbygg Group is a listed construction and project development company that builds and develops residential, commercial buildings and community service properties, as well as logistics and industrial facilities – always with a major focus on sustainability. The group comprises Wästbygg AB, Rekab Entreprenad AB and Logistic Contractor AB.
The group operates in the most rapidly expanding markets in Sweden, with Logistic Contractor also providing services in Denmark, Norway and Finland. In 2022, the group had sales of SEK 5.8 billion and 600 employees.
