Lauritz.com to repay SEK 100 million of bonds due 2019 on July 18

By Wendy Van Sickle

Columbus, Ohio, June 30 – Lauritz.com A/S said the partial repayment date for its previously announced SEK 100 million of floating-rate bonds, issue 2014/219, has been set for July 18.

The bonds will be repaid at 104 plus interest. The record date is July 11.

As reported on June 23, bondholders voted in favor of releasing the pledge on the company’s property at Rovsingsgade 68, Copenhagen.

Of the votes cast, 98.38% were in favor of the release. The bondholders’ approval was a condition in order for Lauritz.com to proceed with a sales leaseback agreement with real estate company Norden.

As a part of the release of the pledge, the bondholders will receive the extraordinary partial repayment of SEK 100 million. The total amount of the bonds is SEK 425 million.

The partial repayment is expected to reduce annual financial expenses by roughly SEK 7.5 million.

The company said it will finance the partial repayment with some of the proceeds from the listing of Lauritz.com Group A/S on Nasdaq First North Premier.

Lauritz.com is an online auction company for art and antiques. The company has headquarters in Herlev, Denmark.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.