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Watch the recording >The Agent has received information from the Issuer that they will not be able to pay the Interest that was due 4 September 2023.
Information from the Issuer:
The sales process is taking longer time than expected due to muted market conditions during the summer, but several ongoing processes are in final stage to materialize. The interest payment due on September 3rd will be delayed and default interest of an additional 5 % p.a. will be added when the interest payment is made, which is expected within 30-90 days. Any sales proceeds, net senior financing, will be deposited on blocked account and available for interest payment of the bond in accordance with the written procedure, approved on the 29th of August 2023.
We apologize for the inconvenience and are of the firm opinion that the slight delay in the sales process is in the best interest of Bondholders.
Next steps
The non-payment constitutes an Event of Default and as the Issuer will get back with more information during the course of next week the Agent will await the further information and not take any actions as of today.
Please find the full version of the notice here.
If you have any questions regarding your investment, please contact the Agent.
Intertrust (Sweden) AB as Agent
[email protected]
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