SRV announces results of its written procedure to amend terms of its senior unsecured notes due 2021
SRV GROUP PLC INSIDE INFORMATION 26 MAY 2020 16:40 EET
SRV Group Plc (“SRV”) announced on 4 May 2020 that it was commencing written procedures in respect of its EUR 100,000,000 (of which EUR 62,1 million is outstanding) senior unsecured callable fixed rate notes due 23 March 2021 (the “2021 Notes”) and its EUR 75,000,000 senior unsecured callable fixed rate notes due 27 March 2022 (the “2022 Notes” and together with the 2021 Notes, the “Senior Notes”) regarding potential amendments to the terms and conditions of the Senior Notes.
Today, SRV announces that the proposed amendments have been approved in the written procedure in respect of the 2021 Notes prior to the deadline for submission of a valid voting form. This follows from holders representing more than 75 per cent. of the Adjusted Nominal Amount (as defined in the terms and conditions of the 2021 Notes) having voted for the proposed amendments.
The written procedure in respect of the 2022 Notes will continue in accordance with the notice of written procedure. The final deadline for submission of a valid voting form is 5 p.m. (Finnish time) on 27 May 2020, at which time the voting form must be received by the Agent (as defined in the terms and conditions of the 2022 Notes) via email, post or courier delivery. In the written procedure in respect of the 2022 Notes, quorum has been reached due to holders of 2022 Notes representing at least 50 per cent. of the Adjusted Nominal Amount (as defined in the terms and conditions of the 2022 Notes) having replied in the written procedure. The written procedure may be completed prior to the final deadline for submission of a valid voting form, if a sufficient majority of votes pursuant to the terms and conditions of the 2022 Notes is reached.
Further information on the written procedures can be found in SRV’s announcement of 4 May 2020 and the notices of written procedure dated 4 May 2020, which are attached to such announcement.
SRV has mandated Pareto Securities AB as financial advisor in the written procedures in respect of its Senior Notes.
Holders of the Senior Notes are encouraged to reach out directly to Pareto Securities AB (contact details below) for more information regarding the written procedures in respect of the Senior Notes.
For further information, please contact:
Ilkka Pitkänen, CFO, Tel. +358 40 667 0906, email@example.com
Carl-Johan Hugner, Head of Real Estate Investment Banking, Pareto Securities AB, Tel. +46 70 772 58 26, firstname.lastname@example.org
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SRV in brief
SRV is a bold developer and innovator in the construction industry. We want to offer the best customer experience as a constructor of urban city centres, while also being the most attractive employer in the industry. Our genuine cooperation and enthusiasm for our work comes across in every encounter. Sustainability is reflected in all our activities.
Established in 1987, we are a publicly listed company since 2007 in Helsinki Nasdaq stock exchange that operates in selected growth centres in Finland and Russia. Our revenue in 2019 was EUR 1,061 million. Over 1,000 people work for us and we employ a network of almost 4,000 subcontractors in our projects.
SRV – Building for life