Klovern seeks bondholder OK to amend secured bonds due October 2021

By Rebecca Melvin

Concord, N.H., May 11 – Klovern AB is seeking bondholder approval to amend the terms and conditions of its bond loan due Oct. 15, 2021 by adding on to the issue and extending final maturity by 19 months, according to a company news release.

Specifically, the company wishes to issue an additional $50 million to a few investors. The original bond issue was $50 million when it was priced in October 2019.

In addition, it would like to extend the final maturity to July 15, 2023. And granted security would be increased in connection with the extension.

Bondholders are receiving a notice of written procedure, which will end no later than May 31.

Klovern is a real estate company based in Stockholm.

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