Polygon begins consent solicitation for floating-rate notes due 2019

By Angela McDaniels

Tacoma, Wash., Oct. 11 – Polygon AB (publ) began a consent solicitation for its €120 million of outstanding senior secured floating-rate notes due 2019, according to a company news release.

The company is soliciting consents from the noteholders to amend some terms and conditions of the notes.

Noteholders who deliver valid voting instructions in favor of the proposals before 11 a.m. ET on Oct. 19 may be eligible to receive an early bird consent fee of 1.5%.

Noteholders will vote at a meeting in Stockholm at 3 a.m. ET on Oct. 26.

In order for the proposals to be passed, the holders of least two-thirds of the adjusted nominal amount must approve the proposals, and the holders of at least 20% of the adjusted nominal amount must be present in order to form a quorum.

The solicitation agent is Nordea Bank Danmark A/S (+45 6161 2996, bibi.larsen@nordea.com, or LiabilityManagement@nordea.com).

Stockholm-based Polygon provides property damage control and climate services.

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