Magnolia Bostad receives bondholder consents to amend terms

Chicago, Sept. 16 – Magnolia Bostad AB announced the successful conclusion of a consent solicitation through written procedures for its bond loans due 2024 (ISIN: SE0014956454) and 2025 (ISIN: SE0015659636), according to a press release.

A quorum was reached with a majority of bondholders voting in favor of the company’s requests under the written procedures.

The amendments became effective on Sept. 9.

The consent fee will be paid on Sept. 22. The record date for the consent fee is Sept. 15.

The company was asking for changes to the terms of the bond loans due to a share tender offer by F Holmstrom 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 an earlier notice

Magnolia conducted 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.

The company 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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