Leverator asks to amend, extend €240 million 8.162% bonds due 2016

By Susanna Moon

Chicago, Dec. 9 – Leverator plc said it is asking holders to approve amendments to its €240 million 8.162% bonds due 2016, that include extending the maturity by two years until June 21, 2018.

The bondholder meeting has been set for Jan. 18 in Helsinki, Finland.

In exchange for consents, the company proposes to pay on June 21, 2016 a consent fee of 2% of the outstanding principal amount after all redemptions made as of that date, according to a company news release.

The consent for the extension would become effective on the condition that Leverator makes an additional redemption for €12.6 million of bonds on Feb. 15 and deposits the consent fee in an escrow account, the release noted.

The coupon of the bonds and other terms are expected to remain unchanged, the company said.

Holder consents are also sought for the purpose of extending by two years the final maturity date of the senior facilities agreement between Leverator plc and CapMan Mezzanine IV LP.

The consent fee will be deposited on Feb. 15 by the issuer at a bank account held with Danske Bank Oyj.

Danske Bank (debtcapitalmarkets@danskebank.com or +358 0 10 5138794) is the agent.

Leverator’s business consists of the issue of bonds and the grant of loans to CapMan Mezzanine IV LP mezzanine fund. The issued bonds are listed on the Helsinki Exchanges.

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