Velcora floating-rate bonds putable at 101 after change of control

By Sarah Lizee

Olympia, Wash., July 18 – Velcora Holding AB (publ) notified holders that due to a change-of-control event, its SEK 525 million senior secured callable floating-rate bonds are putable until Sept. 9.

Idex Corp. acquired and became owner of all outstanding shares and votes in Velcora, constituting a change-of-control event for the bonds, according to a press release.

As a result of the change-of-control event, each bondholder may exercise its right to repurchase its bonds, in whole or in part, at a price equal to 101 together with accrued interest up until and including the repurchase date of Oct. 2.

A submitted repurchase instruction may be revoked prior to Sept. 9.

Velcora is a Tumba, Sweden-based engineering group comprising the two businesses Roplan and Steridose. Idex is a Lake Forest, Ill.-based applied solutions company specializing in fluid and metering technologies; health and science technologies; and fire, safety and other diversified products.

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