DistIT initiates written procedure regarding extension of maturity for outstanding bonds to facilitate final negotiations with bondholders
DistIT AB (publ) (the “Company”) announces that it is initiating a written procedure (the “Written Procedure”) regarding its outstanding maximum SEK 300 million senior unsecured callable floating rate bonds 2021/2025 with ISIN SE0015949359 (the “Bonds”), in order to obtain bondholders’ approval for a short extension of the maturity during ongoing discussions with bondholders to address the upcoming maturity of the Bonds.
The Bonds are scheduled to mature on 19 May 2025. The Company and a group of major holders of the Bonds (the “Bondholder Group”) are in the final stages of negotiating a principal agreement regarding the key terms to manage the upcoming maturity of the Bonds, strengthen the Company’s liquidity position, and establish a long-term sustainable and balanced capital structure for the Company.
In order to finalise the principal agreement with the Bondholder Group, the Company has requested that Nordic Trustee & Agency AB (publ) (the “Agent”), in its capacity as agent for the bondholders, send a notice of written procedure to, among other things, resolve on a 2-week extension of the Bonds’ maturity date to 2 June 2025 (the “Written Procedure”).
The notice of the Written Procedure, including voting instructions, will be distributed to directly registered owners and registered nominees of the Bonds in accordance with the Company's debt ledger maintained by Euroclear Sweden as of 25 April 2025. The notice will also be available on the respective websites of the Company and the Agent.
The outcome of the Written Procedure will be announced through a press release upon completion of the Written Procedure. The record date for voting in the Written Procedure is 9 May 2025, and the last date for voting is 16 May 2025.
For questions regarding the administration of the Written Procedure, please contact the Agent at voting.sweden@nordictrustee.com or +46 8 783 79 00.