Componenta seeks holder approval to call €22.3 million notes due 2017

By Susanna Moon

Chicago, July 7 – Componenta Corp. said it is proposing to amend the terms of its €22.3 million notes due March 2, 2017.

A bondholder meeting will be held in Helsink on July 14.

Componenta is asking holders to amend the terms to be able to call the notes before redemption, according to a press release by Componenta Oyj.

Holders must be of record as of July 7.

Quorum requires representation of at least 20% of the nominal amount of notes at the meeting.

Resolutions that require two-thirds of the votes at the meeting are as follows:

• Waiver of a breach of a special undertaking;

• Amendment of a provision in the terms and conditions of the notes; and

• Decision on the premature termination of the notes.

Measures that require three-quarters of the votes at the meeting are as follows:

• Reduction of the principal amount, interest rate or interest amount;

• Amendment of any payment day for principal or interest amount; and

• Amendment of the provisions in clause 12(e) of the terms and conditions of the notes.

In addition, any matter not covered by the above qualified majority requirements will require the consent of noteholders representing more than 50% of the nominal amount, the release noted.

Componenta is a casting solutions provider based in Helsinki, Finland.

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