Brief: Oscar Properties Says Has Proposal In Principle With Certain Lenders

Oscar Properties Holding AB

08/11/2023 10:34

Nov 8 (Reuters) - Oscar Properties Holding AB  OP.ST :
    * OSCAR PROPERTIES HAS PROPOSAL IN PRINCIPLE WITH CERTAIN
LENDERS
REGARDING GROUP'S FUTURE CAPITAL STRUCTURE
    * PRINCIPLE PROPOSAL WOULD MEAN THAT CO IS CAPITALISED WITH
SEK
250-300 MILLION, OF WHICH AT LEAST SEK 50-100 MILLION WOULD BE
PROVIDED BY EXISTING SHAREHOLDERS, NEW INVESTORS
    * OF THE SEK 250-300 MILLION, SEK 200 MILLION WOULD BE
PROVIDED BY
HOLDERS OF BOND LOAN, AND THAT SEK 600 MILLION OF BOND LOAN BE
CONVERTED INTO SHARES (OR SHARE-LIKE INSTRUMENTS) IN CO
    * DETAILS IN THE PROPOSAL IN PRINCIPLE ARE SUBJECT TO
FURTHER
DISCUSSIONS
    * HOWEVER, DESPITE ABOVE PROPOSAL IN PRINCIPLE, OTHER BANK'S
CANCELLATION OF SECURED LOANS OF ABOUT SEK 1,600 MILLION FOR
IMMEDIATE PAYMENT
    * CO WILL CONTINUE ITS EFFORTS TO TRY TO REACH AGREEMENT
WITH THAT
LENDER
    * CO IS ALSO IN CONTINUED DIALOGUE WITH OTHER CREDITORS TO
FIND
SOLUTION REGARDING OTHER PARTS OF GROUP

Source text for Eikon:  ID:nMFNbJYGsz 
Further company coverage:  OP.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))