Bahamas 
Brazil 
BVI 
Canada 
Cayman Islands 
Curaçao 
USA 
Australia 
China 
Hong Kong 
India 
Japan 
New Zealand 
Singapore 
Belgium 
Cyprus 
Denmark 
Finland 
France 
Germany 
Greece 
Guernsey 
Ireland 
Italy 
Jersey 
Luxembourg 
Norway 
Spain 
Sweden 
Switzerland 
The Netherlands 
UAE 
UK Featured articles and media
Insights | Corporate Client Services
Voluntary carbon credits bolster green bonds
25 May 2023
Read >
Featured articles and media
Show all media for Private Capital & Hedge Fund Services >
Featured articles and media
Show all media for Capital Markets >
Featured articles and media
Show all media for Private Clients >
Featured events
Events | Virtual
Bankruptcy and Restructuring: Navigating Distress in the Evolving Markets
22 Jun 2023
Learn more >
Events | Virtual
Private Funds Industry Live, Expanding Private Funds in Global Markets
10 Jan 2023
Watch the recording >
Events | Virtual
Private Funds Industry Live, Demystifying Private Capital Funds
6 Dec 2022
Watch the recording >From: Valerum AB (publ) (“Valerum”)
To: Intertrust (Sweden) AB (the “Agent”), and
Holders of Valerum’s senior secured floating rate bonds 2020/2024 with ISIN SE0015192190 (the “Bonds”)
Notice of an Event of Default and a Default Put Option exercise right
Dear Madams and Sirs,
1. We refer to the terms and conditions originally dated 28 October 2020 and as amended and restated on 30 December 2020 and 28 April 2023 for the Bonds (the “Terms and Conditions”).
2. Terms defined in the Terms and Conditions shall have the same meaning when used in this notice, unless otherwise defined herein.
3. Pursuant to Clause 11.1 (f) and (j) (Information from the Issuer) of the Terms and Conditions, we hereby give you notice that an Event of Default has occurred pursuant to Clause 14.1 (Non-Payment) of the Terms and Conditions. Therefore, the Default Put Option can be exercised under the Terms and Conditions.
4. Pursuant to Clause 9.6 (Default Put Option) of the Terms and Conditions, each Bondholder has the right, but not the obligation (unless required by reason of the Default Call Option set out in Clause 9.6 of the Terms and Conditions), to sell (and SBB have an obligation to purchase) Bonds held by such Bondholder to SBB at a price per Bond equal to 100 per cent. of the Nominal Amount together with accrued but unpaid interest. The relevant payment date for such purchase amount will be coordinated by the Agent directly with SBB. Pursuant to Clause 9.6 (Default Put Option) of the Terms and Conditions, SBB shall purchase the relevant Bonds being subject to the Default Put Option no later than 20 Business Days after the Long Stop Date (as defined below).
5. If a Bondholder wants to exercise its right to request that all, or only some, of its Bonds are purchased on the terms set out in item 4 above, such Bondholder shall send notice to the Agent and procure that the Agent has received the notice no later than CET 17:00 on 9 November 2023 (the “Long Stop Date”). Such notice shall be sent to:
Intertrust (Sweden) AB
Att: Agency & Trustee (Valerum)
Sveavägen 9, 111 57 Stockholm
[email protected]
+46 8 402 72 00
The full version of this notice can be found here.
Yours faithfully,
Valerum AB (publ)
Our services
Corporate Client Services
Operating internationally can be challenging. You need a partner who understands local rules, culture and customs and how they affect legal and regulatory requirements. That’s where we come in.
Can't find what you're looking for?
View all corporate client servicesPrivate Capital & Hedge Funds Services
We differentiate our global leading fund services through our geographical spread, domain strength, technology offering and depth of services.
Can't find what you're looking for?
View all private capital & hedge fund servicesCapital Markets
As capital markets evolve across the globe, you need a bespoke approach from a service provider with a genuine understanding of how markets are changing.
Can't find what you're looking for?
View all capital markets servicesPrivate Clients
By understanding the importance of long-term relationships built around trust, we aim to truly understand your values. We’re your partner to help you protect, preserve and plan for the future.
Can't find what you're looking for?
View all private client services