BEWiSynbra Group AB (publ) will give notice for early redemption of 2018/2022 bonds with ISIN SE0010985556 and 2019/2023 bonds with ISIN SE001340945524-08-2021
BEWiSynbra Group AB (publ) will give notice for early redemption of 2018/2022 bonds with ISIN SE0010985556 and 2019/2023 bonds with ISIN SE0013409455
Today BEWiSynbra Group AB (publ) (the “Issuer”) announces that it will give notice to the holders of its up to EUR 100,000,000 Senior Secured Floating Rate Notes due 2022 (ISIN: SE0010985556) (the “2022 Bonds”) and its up to EUR 115,000,000 Senior Secured Floating Rate Notes due 2023 (ISIN: SE0013409455) (the “2023 Bonds”) (the 2022 Bonds and the 2023 Bonds are collectively referred to as the “Bonds”), that it exercises its option for early redemption of the Bonds in accordance with clause 9.9 of the terms and conditions for the 2022 Bonds and clause 9.10 of the terms and conditions for the 2023 Bonds. Redemption notices will be distributed to the bondholders on 25 August 2021.
The early redemption is conditional upon the successful settlement of the issuance of new senior unsecured floating rate sustainability-linked bonds in an aggregate amount of EUR 160,000,000 under a framework of up to EUR 250,000,000 that was announced by the Issuer’s parent company BEWI ASA (the “Condition”).
Subject to the Condition being satisfied (or the redemption otherwise being declared unconditional by the Issuer), the redemption date is expected to be 6 September 2021 and the redemption amount, together with accrued and unpaid interest up to and including the redemption date, will be paid to each person who is registered as a bondholder as of the record date (expected to be 30 August 2021) in the debt register maintained by Euroclear Sweden. The fulfilment of the Condition as well as a confirmation of the redemption date and the record date (both which will not occur at an earlier date than as set out above) will be confirmed to the bondholders through a press release.
If the Condition is satisfied, the redemption will be irrevocable, and the Bonds will be redeemed at the redemption price of 102.250 per cent. and 103.350 per cent. of the nominal amount of the 2022 Bonds and the 2023 Bonds, respectively, and eligible bondholders that have participated in the early voting offer pursuant to the written procedures that were instigated on 9 August 2021 relating to the Bonds will, subject to the terms of the notices of written procedure issued in connection therewith, receive an early consent fee in an amount equal to 0.250 per cent. of the nominal amount of each Bond.
In connection with the redemption, the Bonds will be cancelled and delisted from Nasdaq Stockholm.
For further information, please contact:
Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 975 61 959
Marie Danielsson, CFO BEWI ASA, tel.: +46 70 661 0047
About BEWI ASA
BEWI ASA, the owner of BEWiSynbra Group AB, is an international provider of packaging, components, and insulation solutions. The company’s commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
BEWI ASA is listed at the Oslo Børs under ticker BEWI.
The information was submitted for publication, through the agency of the contact person set out above, at 21:00 CEST on 24 August 2021.