Debt and hybrid investors
One of the key tasks of SRV’s financing is, in accordance with the treasury policy, to ensure sufficient funds to achieve the operational business and strategic goals. In addition, the objective is to arrange financing as cost effectively as possible while minimising net financial costs, to safeguard sufficiently diverse sources of financing and to ensure effective management of financial risks.
A EUR 75 million bond and a EUR 100 million bond
SRV Group Plc (“SRV”) announced on 28 April 2022 that it was inter alia commencing written procedures regarding potential amendments to the terms and conditions of SRV’s EUR 100 million unsecured fixed-rate notes with ISIN code FI4000198122 (of which EUR 21,061,512 is outstanding after the amount of the Notes redeemed in the earlier announced tender offer process 30.6.2022 has been confirmed) (“EUR 21 million Notes”) and EUR 75 million unsecured fixed-rate notes with ISIN code FI4000315395 (of which EUR 36,047,145 is outstanding after the amount of the Notes redeemed in the earlier announced tender offer process 30.6.2022 has been confirmed) (“EUR 36 million Notes” and together with the EUR 21 million Notes “Notes”). Since that, SRV has inter alia disclosed the results of the written procedures.
1.7.2022 SRV announced that the hybrid terms and conditions of the Notes that were approved in the written procedures have become effective on 30 June 2022, after trading with the Notes for the trading day had ended in the Helsinki Stock Exchange. The Notes bear interest on their outstanding principal amount from and including the date on which the hybrid terms and conditions have become effective, i.e., from and including 30 June 2022.
Amended and restated Terms and Conditions (EUR 75 million bond)
Amended and restated Terms and Conditions (EUR 100 million bond)