Group of Retail: Notes due 2019 are putable due to buyout by Klovern

By Susanna Moon

Chicago, Nov. 20 – A Group of Retail Assets Sweden AB holders may exercise the put option under the company’s SEK 500 million senior bonds due Sept. 23, 2019 due to a change of control.

The notes are putable at 101 plus accrued interest until 11 a.m. ET on Dec. 21.

A change of control occurred under the note terms when Klovern AB acquired about 99.3% of the company’s shares and about 99.7% of the voting shares.

The repurchase date will be Feb. 22. The record date is Feb. 15.

The notes were issued Sept. 23, 2016.

Klovern is a real estate company based in Nykoping, Sweden. A Group of Retail Assets is a real estate developer based in Stockholm, Sweden.

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