Brief: Viaplay Proposes Amendments To Terms And Conditions With Bondholders

Viaplay AB (publ)

07/12/2023 07:41

Dec 7 (Reuters) - Viaplay AB  VPLAYb.ST :
    * SAID ON WEDNESDAY AGREED WITH CERTAIN LARGER HOLDERS OF
BONDS ON
CERTAIN AMENDMENTS TO TERMS AND CONDITIONS FOR BONDS AND CERTAIN
RELATED TRANSACTIONS
    * RECEIVED UNDERTAKINGS TO VOTE IN FAVOUR OF PROPOSAL ON
BONDHOLDERS' MEETINGS BY HOLDERS REPRESENTING 61.4% OF
OUTSTANDING NOMINAL AMOUNT UNDER BONDS
    * BONDHOLDERS' MEETINGS WILL BE HELD ON JAN 8 2024
    * PROPOSES THAT MATURITY DATE OF BONDS BE EXTENDED UNTIL DEC
31
2028
    * PROPOSES THAT REDEMPTION AMOUNT TO WHICH BONDS SHALL BE
REPAID
ON MATURITY DATE RISE TO 107.5% OF NOMINAL AMOUNT
    * PROPOSES THAT INTEREST MARGIN OF EACH OF BONDS BE
INCREASED TO
3.75% FROM BUT EXCLUDING EFFECTIVE DATE
    * PROPOSES THAT OPTION FOR DECISION MAKING AMONG BONDHOLDERS
UNDER
TERMS AND CONDITIONS BY WAY OF WRITTEN PROCEDURE BE INCLUDED
    * REQUESTS THAT BONDHOLDERS APPROVE THAT NOMINAL AMOUNT OF
OUTSTANDING BONDS WILL BE DECREASED BY SEK 687.4 MILLION BY
MANDATORY CANCELATION ON PRO RATA BASIS AMONGST ALL HOLDERS OF
BONDS 
    * ACCRUED BUT UNPAID INTEREST ON WRITE-DOWN AMOUNT SHALL BE
WRITTEN DOWN TO ZERO
    * REQUESTS THAT BONDHOLDERS APPROVE THAT SEK 229.1 MILLION
OF
AMOUNT OF OUTSTANDING BONDS SHALL BE PAID PRO RATA BY WAY OF
SET-OFF AGAINST NEWLY ISSUED CLASS B SHARES
    * IF PROPOSAL IS APPROVED EARLY BIRD FEE AMOUNTING TO 1.00%
OF
NOMINAL AMOUNT OF OUTSTANDING BONDS WILL BE PAID TO HOLDERS OF
BONDS WHO VOTED IN WRITING IN ADVANCE NO LATER THAN AT 15:00
(CET) ON DEC 20 2023

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nWkr4L36ZK
 Further company coverage:  VPLAYb.ST  

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