Alm Equity seeks OK to make buyouts under SEK 600 million of floaters

By Susanna Moon

Chicago, Nov. 15 – Alm Equity AB (publ) began a consent solicitation to amend its SEK 600 million of outstanding maximum senior floating-rate bonds due 2020.

Alm is soliciting consents to amend the terms of the bonds to boost the company’s financial flexibility in order to make acquisitions, according to a company announcement.

Holders who send voting instructions in favor of the proposals before 11 a.m. ET on Nov. 28, the early bird consent date, will receive an early bird consent fee of 0.3%.

Those who give consents receive a consent fee of 0.1% if the proposals are approved by the needed majority, the company added.

The company has scheduled a bondholder meeting for Dec. 2 in Stockholm.

For the measures to pass, there must be a quorum of at least 20% of the adjusted principal amount and a majority of votes for at least two-thirds of the adjusted amount.

To receive the early bird consent fee, holders should not participate in person or via representation by proxy at the meeting, but should use the consent voting instruction form, the company noted.

Nordea Bank Danmark A/S (+45 6161 2996 or NordeaLiabilityManagement@nordea.com) is the solicitation agent. The paying agent is Nordea Bank AB (publ) (IssuerSeCustodian@nordea.com).

ALM Equity is a real estate development company based in Stockholm.

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