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Lakers calls NOK 950 million sustainability-linked bonds at 103.37
By Devika Patel
Knoxville, Tenn., June 28 – Lakers Group AB reported in a press release that it will redeem NOK 950 million of its NOK 2 billion outstanding senior secured sustainability-linked bonds (ISIN: NO0011017113) at 103.37 plus accrued and unpaid interest to July 12, the call date.
As previously reported, Lakers said on June 22 that it is progressing with a planned divestment of certain subsidiaries and will issue a call notice for the bonds within the next couple of weeks, once the divestment is completed.
In preparing to redeem the bonds, the company concluded that it will not be able to meet its sustainability performance targets once it redeems the bonds.
The company previously stated that the bonds would be redeemed at 100.5 plus the relevant call premium. The call premium was determined to be 102.87.
Lakers is an environment and wastewater management company headquartered in Oslo, Norway.
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