Molleparken gets consents to avert put option under bonds due 2020

By Susanna Moon

Chicago, Nov. 7 – Molleparken 4 Senior BondCo AS obtained holder approval to amend its senior secured bond issue 2017/2020 in connection with a planned acquisition.

There were enough holders to form a quorum, and the measure was passed with 98.9% of the votes cast, according to a notice by Nordic Trustee AS.

As announced Oct. 24, the company was seeking consents to amend the bond terms to avoid triggering a put option after the merger.

Ragde Eiendom AS offered to buy all of the shares of the issuer’s ultimate parent Molleparken 4 AS, which would constitute a change of control under the bond terms unless Ragde is approved as a “permitted transferee,” according to a previous notice.

If the buyer were rejected as a transferee and the buyout went through, the notes would have been putable at 101.

The voting deadline was 6 a.m. ET on Nov. 7.

Ragde owns and let apartments and commercial premises. The company is based in Oslo, Norway.

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