Bactiguard gets approval to amend SEK 450 million 11% bonds due 2016

By Susanna Moon

Chicago, May 9 - Bactiguard Holding AB said it obtained bondholder approval to change the definition of change of control under its SEK 450 million 11% senior secured bonds due 2016.

Holders representing 46% of the outstanding bonds voted, and 100% of those approved the issuer's request, according to a company press release.

Bactiguard said on April 10 that the change was needed for listing on the Nasdaq OMX Stockholm exchange.

In connection with the initial public offering, the ultimate owners of the company may be required to reduce their ownership of the share capital below 50%, which would be a change of control.

A quorum required holders representing at least one-fifth of the aggregate outstanding adjusted nominal amount of the bonds to provide answers in this procedure in writing, and the proposal required support from a majority of those votes.

Holders could vote until 10 a.m. ET on May 8. They needed to be of record as of May 2.

CorpNordic Sweden AB (Anna Litewka, trustee@corpnordic.com or a.litewka@corpnordic.com, +46-8-402 7200) is the agent.

Stockholm-based Bactiguard makes products meant to prevent hospital-acquired infections.

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