DDM asks holders of 13% notes due 2016 to approve amendment to terms

By Angela McDaniels

Tacoma, Wash., Jan. 22 - DDM Group AG subsidiary DDM Treasury Sweden AB (publ) is seeking bondholder approval to amend the terms and conditions of its SEK 500 million 13% senior secured notes due 2016, according to a notice.

The bonds were issued in June 2013. Under their terms, the proceeds are to be used to acquire distressed consumer debt in Russia and Romania. The amendment would extend the geographical scope to include Croatia, Slovenia, Serbia, Montenegro and Hungary.

Bondholders will vote on the proposed amendment by mail. Voting forms must be received no later than Feb. 17. Participants must be direct registered owners as of Jan. 27.

The holders of at least 20% of the adjusted nominal amount of the notes must vote in order to form a quorum, and the holders of more than 50% of the bonds for which voting forms are received must vote in favor of the amendment in order for it to be made.

Voting forms should be sent to the agent, CorpNordic Sweden AB (trustee@corpnordic.com).

DDM Group invests in distressed consumer debt in Eastern Europe. The company is based in Baar, Switzerland.

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