Brief: Magle Group Updates On Financing Restructuring, Proposed Share Issuance
BRIEF-Magle Group Updates On Financing Restructuring, Proposed Share Issuance June 12 (Reuters) - Magle Chemoswed Holding AB MAGLE.ST:
SAID ON THURSDAY NEGOTIATING WITH AD HOC BONDHOLDER GROUP REPRESENTING ABOUT 70% OF OUTSTANDING SENIOR SECURED BOND LOAN 25/28
PROPOSAL INCLUDES ISSUANCE OF NEW SEK 203 MILLION SUPER SENIOR BONDS FALLING DUE IN 2029
PART OF OUTSTANDING BONDS TO BE CONVERTED INTO NEW SHARES VIA DEBT-TO-EQUITY SWAP OF UP TO ABOUT SEK 38 MILLION
RESTRUCTURING CONDITIONAL ON CAPITAL INCREASE OF UP TO ABOUT SEK 16 MILLION AT SEK 1.0 PER SHARE
PRS1 AND MB HOLDING INTEND TO SET OFF OUTSTANDING LOANS AGAINST NEW SHARES IN SEPARATE ISSUE
HOLDERS OF BONDS AND SUPER SENIOR BONDS MAY JOINTLY HOLD MORE THAN 50% OF SHARES AND VOTES AFTER RESTRUCTURING
ESTIMATES FINAL AGREEMENT REGARDING RESTRUCTURING TO OCCUR DURING JUNE 2026
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