on Brödernas Group AB (isin : NO0013250597)
Brödernas Group AB Seeks Amendments to Bond Terms
Brödernas Group AB has initiated a written procedure to amend the terms of its senior secured bonds 2024/2029. The company seeks bondholders' approval for several changes. Key amendments include reducing the threshold for the Ad Hoc Group from 60% to 51% and removing the "Listing Failure Event" definition. The cap on Super Senior Debt is proposed to increase from SEK 50 million to SEK 75 million.
Additionally, the company plans to introduce unlimited exercise of the PIK Option for interest payments and shift from quarterly to semi-annual financial reporting. The deletion of financial covenants and clarifying that Super Senior Debt payments do not count as "Restricted Payments" are also proposed.
The voting deadline is August 5, 2026, with bondholders representing 57% of the bonds supporting the proposal. Results will be announced post-procedure.
R. P.
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