Pro Kapital starts written procedure for callable bonds to allow early call

By Mary-Katherine Stinson

Lexington, Ky., Aug. 30 – Pro Kapital Grupp AS has initiated a written procedure for holders of its €28.5 million senior secured callable fixed-rate bonds 2020/2024 (ISIN: SE0013801172) to facilitate waivers for a partial early redemption of the company’s outstanding bonds listed on Nasdaq Talinn, according to a press release.

The waiver would allow the early redemption of a maximum of 15%, or approximately €1.45 million, of the company’s outstanding unsecured non‑convertible fixed rate bonds (ISIN: EE3300001676).

Some major bondholders representing around 75% of the face amount of bonds have agreed to give some waivers in relation to the bonds.

A quorum of at least 20% of the adjusted outstanding amount is needed.

At least two-thirds of the adjusted amount outstanding is required to vote for the changes to be successful.

Pro Kapital Grupp stated it was seeking to not maintain any debt with early redemption dates or installment dates occurring before the final redemption date of the bonds.

Gernandt & Danielsson Advokatbyra acted as legal adviser.

Questions may be directed to the agent Nordic Trustee & Agency AB (publ) at voting.sweden@nordictrustee.com or +46 8 783 79 00. The notice of the written procedure is available on the agent’s website at https://nordictrustee.com/.

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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