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Estonia’s Pro Kapital plans to propose amendments to 2024 bonds
By Marisa Wong
Los Angeles, June 20 – AS Pro Kapital Grupp intends to suggest some changes to the terms and conditions of its 8% bonds due Oct. 31, 2024 (ISIN: EE3300001676), according to a press release.
Pro Kapital had issued 3,459,081 of the bonds with a total value of €9,685,426.80. The bonds are traded on the Nasdaq Tallinn stock exchange.
In connection with a plan to continue development activities, the company is informing bondholders that it is currently preparing and in the near future intends to present a proposal to extend the bond redemption term by two years, plus another two years.
According to initial plans, the company is ready to redeem the bonds in October 2026, once the ongoing development projects are completed.
However, the company would like to have the right to further extend the redemption period by two years in case there are unexpected turns in the real estate market.
According to the procedure provided in the bond terms, the company will publish a detailed proposal for amending the bond terms as a separate stock exchange announcement, after which the bondholders will be able to vote on the proposed amendments.
Pro Kapital Grupp is a Tallinn, Estonia-based real estate development company with a focus on modern large-scale commercial and residential real estate in the capitals of Estonia, Latvia and Lithuania.
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