Magnolia Bostad initiates written procedures for change of control

Chicago, Aug. 24 – Magnolia Bostad AB has initiated written procedures for its bonds following a share tender offer by F Holmström Holding 6 AB that resulted in FHH owning more than 90% of all the shares of the company, triggering a change of control, according to a notice.

Magnolia has initiated the written procedures for its bond loans due 2024 (ISIN: SE0014956454) and 2025 (ISIN: SE0015659636).

Magnolia has started the process to ensure that the bonds may remain outstanding after the closing of the tender offer and the subsequent delisting of the company’s shares by adjusting the bondholders’ put option.

Some compensation is being offered to bondholders for accepting the amendments.

Bondholders representing at least 20% of the adjusted nominal amount of the bonds must reply and two-thirds of those must consent for the amendments to be accepted.

The company has appointed Nordea Bank Abp (+45 5546 9082, nordealiabilitymanagement@nordea.com) and Skandinaviska Enskilda Banken AB (publ) (+44 7880 783 998, SEBLiablityManagement@seb.se) as solicitation agents in connection with the written procedures.

Magnolia Bostad, through its subsidiaries, acquires, develops, and converts properties into rental and tenant-owned apartments. The company is based in Stockholm.

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