Molleparken seeks consents to avert put option under bonds due 2020

By Susanna Moon

Chicago, Oct. 24 – Molleparken 4 Senior BondCo AS is asking for holder approval to amend its senior secured bond issue 2017/2020 to avoid triggering a put option in connection with a planned acquisition.

Ragde Eiendom AS has offered to buy all of the shares of the issuer’s ultimate parent Molleparken 4 AS, which would constitute a change of control under the bond terms unless Ragde is approved as a “permitted transferee,” according to a notice by Nordic Trustee AS.

If the buyer is rejected as a transferee and the buyout goes through, the notes will be putable at 101.

The voting deadline is 6 a.m. ET on Nov. 7.

Ragde owns and rents apartments and commercial premises. The company is based in Oslo, Norway.

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