Hoist lifts spread on floaters to 600 bps for restricted payment

By Susanna Moon

Chicago, Dec. 12 – Hoist Group Holding Intressenter AB notified bondholders that it has increased the margin to 600 basis points on its up to SEK 1 billion senior secured callable floating-rate bonds.

An increased margin event occurred because the issuer made a restricted payment on Dec. 3 by repaying shareholder loans, which was a restricted payment under the note terms.

The margin increase is effective from Dec. 3, according to the notice by Nordic Trustee & Agency AB.

Hoist priced SEK 500 million of floaters due June 29, 2021 at Stibor plus 500 bps on June 26, 2017.

Hoist markets technological system solutions and services for the hotel, conference, commercial, and real estate industries. The company is based in Solna, Sweden.

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