Leverator gets holder OK to extend €240 million 8.162% bonds until 2018

By Susanna Moon

Chicago, Jan. 21 – Leverator plc said holders approved extending the maturity of its €240 million 8.162% bonds due 2016 at a meeting held Wednesday.

The proposal required unanimous approval of the bondholders, according to a company notice.

Leverator said on Dec. 9 that it was asking holders to approve amendments to the bonds that would include extending the maturity by two years until June 21, 2018.

In exchange for consents, the company will pay on June 21, 2016 a consent fee of 2% of the outstanding principal amount after all redemptions made as of that date, as previously announced.

The consent for the extension will 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, a previous press 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 company previously said.

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

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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