Hoist Group Holding Intressenter AB (publ) intends to redeem its Senior Secured Bonds
Hoist Group Holding Intressenter AB (publ) (the “Issuer”) intends to redeem its SEK 500,000,000 Senior Secured Callable Floating Rate Bonds Issue 2017/2021 with ISIN SE0010101576 (the “Bonds”).
Redemption of the Bonds is expected to occur on or around 21 April 2021 (the “Redemption Date”) and is conditional on the closing of the new financing package. The Issuer will issue a subsequent press release on or prior to 14 April 2021 (the “Record Date”) to confirm whether the financing condition has been satisfied or waived, and the redemption will proceed as planned, or whether the notice period has been extended. If the redemption is completed, the Issuer will pay an early redemption premium of 0.625% of the nominal value of the Bonds (as well as accrued but unpaid interest on the Bonds up to and including the Redemption Date) in accordance with the terms and conditions of the Bonds (the “Redemption Amount”). The Redemption Amount will be paid to each person who is registered as a bondholder in the debt ledger for the Bonds on the Record Date.
If the redemption is completed, the Bonds will be de-listed from the corporate bond list of Nasdaq Stockholm in connection therewith.
The notice of early redemption of the Bonds is attached to this press release.
This information is information that the Issuer is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 17:30 CET on 24 March 2021.
For more information please contact:
Magnus Lindholm, CFO, Hoist Group
About Hoist Group
Hoist Group provides technology solutions to hotels, enabling them to manage coherent end-to-end digital journeys for their guests. Hoist Group optimizes guest services by correlating and analyzing the data that comes from its innovative Property Management & Booking Software, Managed IP Networks, Internet and TV Content as well as from many other digital touchpoints. Headquartered in Stockholm with 20 offices across EMEA, Hoist Group has nearly 500 dedicated staff serving over 8,000 unique hotels.
NOTICE OF CONDITIONAL REDEMPTION
To the holders of bonds of Hoist Group Holding Intressenter AB (publ)
up to SEK 1,000,000,000
Senior Secured Callable Floating Rate Bonds due 2021
NOTICE IS HEREBY GIVEN, that, pursuant to Clause 9.6 (Voluntary total redemption (call option)) of the terms and conditions for the maximum SEK 1,000,000,000 Senior Secured Callable Floating Rate Bonds due 2021 (the “Bonds”) issued by Hoist Group Holding Intressenter AB (publ) (the “Issuer”), dated as of 26 June 2017 and as amended and restated on 31 July 2020, between the Issuer and Nordic Trustee & Agency AB (publ) (the “Agent”) as agent (the “Terms and Conditions”), the Issuer intends to redeem the total aggregate nominal amount of the Bonds outstanding under the Terms and Conditions (the “Redemption”). Terms used but not defined herein shall have the meaning given to them in the Terms and Conditions.
The Issuer intends to refinance the Bonds and accordingly the Issuer has elected to redeem the Bonds on 21 April 2021 (the “Redemption Date”) at a redemption price of 100.625 per cent. of the nominal amount of the Bonds together with accrued and unpaid interest up to and including the Redemption Date (the “Redemption Price”).
The record date on which any holder must hold any Bond to be entitled to the Redemption Price will be 14 April 2021 (the “Record Date”).
The Issuer’s notice of intention to redeem the Bonds is being given in connection with, and is conditional upon the closing of a new financing for the purpose of refinancing the Bonds (the “Condition”). The redemption of the Bonds described herein, and the giving of this Notice of Conditional Redemption, are, in all respects, subject to and conditional upon the satisfaction or waiver of the Condition, and the Issuer shall not, and shall have no obligation to, redeem any of the Bonds pursuant to this Notice of Conditional Redemption unless the Condition has been satisfied on or prior to 14 April 2021.
The Issuer will notify the Agent and the Bondholders of the satisfaction or waiver of the Condition or the extension of the notice period by way of press release prior to the Record Date.
If the Condition is satisfied or waived and the notice period has not been extended by the Issuer, the Redemption will be irrevocable and all outstanding Bonds will be redeemed on the Redemption Date. If the Condition is not satisfied or waived and the notice period is not extended by the Issuer by way of press release, on or prior to 14 April 2021, this Notice of Conditional Redemption shall lapse and cease to be effective and the Bonds will remain outstanding and interest will continue to accrue in accordance with the terms thereof. Any notice of an extension of the notice period will include details of the revised record date and redemption date which will apply to the extended notice period.
Hoist Group Holding Intressenter AB (publ)
Dated: 24 March 2021
For further information, please contact:
Magnus Lindholm, CFO, Hoist Group