Brief: Bong Provdes Update On Outstanding Senior Notes

Bong AB

22/05/2020 11:43

May 22 (Reuters) - Bong AB  BOLJ.ST :
    * BONG INITIATES A WRITTEN PROCEDURE TO OBTAIN APPROVAL FROM
NOTEHOLDERS OF CERTAIN AMENDMENTS TO THE TERMS AND CONDITIONS OF
ITS OUTSTANDING SENIOR NOTES AND PROVIDES AN UPDATE REGARDING
COVID19
    * GROUP HAS EXPERIENCED A SIGNIFICANT DECREASE IN SALES
DURING
APRIL AND MAY 2020, IN PARTICULAR IN FRANCE AND UK. FURTHER,
GROUP HAS EXPERIENCED, AND EXPECTS TO CONTINUE TO EXPERIENCE,
DELAY OF, OR DEFAULT, IN PAYMENTS FROM CUSTOMERS.
    * FURTHER, GROUP HAS EXPERIENCED, AND EXPECTS TO CONTINUE TO
EXPERIENCE, DELAY OF, OR DEFAULT, IN PAYMENTS FROM CUSTOMERS
    * GROUP HAS NOT BEEN UNAFFECTED BY IMPACT OF CURRENT COVID19
PANDEMIC
    * IS CONFIDENT THAT VOLUMES AND SALES WILL START TO GO UP
AGAIN,
EVEN IF THERE IS A SIGNIFICANT ROAD BACK TO PRE-COVID19 LEVELS,
AND THAT GROUP CAN IN TIME BE ABLE TO RETURN TO A NORMAL
SITUATION

Source text for Eikon:  ID:nWkr5xF30g 
Further company coverage:  BOLJ.ST 

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