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Information about PIK interest in Moment Group AB (publ)

17 September 2020

To the noteholders in the senior unsecured floating rate bonds with ISIN SE0010985978 (the “Bonds”) issued by Moment Group AB (publ) (the “Issuer”).

Background

We refer to recent discussion regarding Euroclear’s treatment of the PIK Interest due in respect of the Notes. This is to inform you that after extensive discussions with various Euroclear departments and officers, it has been confirmed that Euroclear’s system is unable to add the PIK Interest to the Nominal Amount and thus evidence the Nominal Interest Amount as at each Interest Payment Date. This is purely a technical issue and does not affect the Issuer’s obligations and liabilities towards the Noteholders but has certain practical implications for you as Noteholders.

The Issuer’s obligations to inform Euroclear subsists & redemption

Pursuant to Clause 9.3 of the terms and conditions of the Notes, the Issuer, shall for each Interest Period, calculate PIK Interest and provide information on the Nominal Interest Amount as per the Interest Payment Date for the relevant Interest Period. Information on the calculation for an Interest Period shall be provided by the Issuer to Euroclear no later than six (6) Business Days before the relevant Interest Payment Date. This will serve to record outside the Euroclear system the Nominal Interest Amount from time to time due in respect of each Note and the Issuer will comply with this obligation. Upon redemption the Issuer will ask for a separate payment to be made in respect of all amounts due in respect of the Notes which has not been paid and which has not been recorded as payable in the Euroclear system.

Implications for Noteholders

If a Noteholder sells Notes prior to the Final Redemption Date, there needs to be a separate accounting in connection with the sale for the Accrued PIK Interest which has not been recorded in the Euroclear system. Information about the amount of such Accrued PIK Interest is available from the Agent and the Issuer from time to time.

The full notice can be downloaded here.

For questions to the Issuer please contact:

Martin du Hane
Email: [email protected] 
Phone: +46 72 164 8565

For questions to the Agent:

Beatrice Gustafsson
Email: [email protected]
Phone: +46 70 141 1082

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