Humble Group obtains bondholders’ approval in the written procedure to amend the terms and conditions of its 2021/2024 senior secured bonds

| 16 juli, 2021 | 0 kommentarer

Humble Group AB (publ) (“Humble Group”, or the “Company”) announced on 28 June 2021 that Nordic Trustee & Agency AB (publ) (the “Agent”) had been instructed to initiate a procedure in writing (“Written Procedure”) to seek bondholders’ approval to amend the terms and conditions of its maximum SEK 500 million 2021/2024 senior secured bonds with ISIN SE0015243472 (the “Existing Bonds”). Following the initiation of the Written Procedure, the Company successfully issued SEK 700 million of new senior secured bonds, under a framework of SEK 1500 million and with maturity in July 2025 as announced on 1 July 2021 (the “New Bonds”). The bondholders have voted in favour of the proposed amendments of the Existing Bonds.

The resolved amendments include (i) the possibility for the Company to share the security and guarantee package of the Existing Bonds with the New Bonds and a credit facility, with pari passu senior ranking between the Existing Bonds and the New Bonds and with super senior ranking of the credit facility subject to an intercreditor agreement, (ii) increase the credit facility to the higher of SEKm 75 and 1.0x adjusted EBITDA, (iii) the possibility to incur financial indebtedness in relation to properties owned by the Company or any of its subsidiaries (subject to certain restrictions), and (iv) other amendments to the terms & conditions necessary to facilitate (i)-(iii) above. Further information regarding the resolved amendments are available in the notice of Written Procedure and the investor presentation published on the Company’s web page.

The last time and day of voting in the Written Procedure was 12:00 CEST on 16 July 2021. Humble Group hereby announces that a sufficient number of votes were obtained in order to form a quorum and that a requisite majority of the bondholders voted in favour of the proposal. The amended version of the terms and conditions of the Existing Bonds will come into effect as of today and will be published on the Company’s web page. The result of the Written Procedure will be sent to the bondholders and will be published on the Agent’s web page. Subject to settlement of the New Bonds on 21 July 2021 as announced on 1 July 2021, the record date for payment of the consent fee in accordance with the notice of Written Procedure will be 22 July 2021 and the payment date will be 29 July 2021.

Carnegie Investment Bank AB (publ) acted as financial advisor and Gernandt & Danielsson Advokatbyrå as legal advisor to the Company in relation to the Written Procedure.

For further information, please contact:
Simon Petrén, CEO, Humble Group AB
Tel: +46 70 999 94 55

E-mail: [email protected]

The information in this press release constitutes inside information that Humble Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact person set out above, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.

About Humble Group

Humble Group is a Swedish food-tech and FMCG-group, supplying the next generation of products that are good for people and the planet. Humble targets the segments of foodtech, eco, sustainability and vegan to drive high organic growth, acquisitions and utilize synergies in the different operation entities: Brands, Distribution, Manufacturing and Ingredients and R&D. Humble’s technology solutions, refined through scientific research and extensive market experience, facilitate new formulations and recipes that improve the taste and texture of the next generation of sugar-reduced, sustainable and vegan products. For more information visit www.humblegroup.se

HUMBLE Group is listed on Nasdaq Stockholm, First North Growth Market, under the ticker HUMBLE, FNCA Sweden AB is Humble Group’s certified adviser. Tel: 08-528 00 399 E-mail: [email protected]

Kategori: Marknadsnyheter

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