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Guernsey Prime Living AB (publ) has entered into a stand still agreement with Holders representing more than 50% of the holders.
The Issuer has not paid the interest that was due to be paid on 28 June 2019 pursuant to the Terms and Conditions. As communicated by the Issuer in a press release on 28 June 2019, the Issuer has entered into a standstill agreement with holders representing more than 50% of the Bonds. The purpose of the standstill agreement is to give the Issuer time to find a long term solution for its financial difficulties and the holders have undertaken not to terminate the Bonds or enforce the security during a standstill period that will last until 20 September 2019, unless something unexpected happens.
The following notice has been sent to the nominees and can be found here.
The press release from the company can be found here.
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