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DDM Holding AG
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DDM Debt AB
DDM Debt announces the successful completion of its Written Procedure and amendments to the terms and conditions of the Bonds
DDM Debt AB (Nasdaq Stockholm: DDM2) ("DDM Debt") today announces the successful completion of the written procedure (the "Written Procedure") that was initiated on 18 February 2020 in relation to its up to EUR 150,000,000 senior secured floating rate bonds due 2022 (ISIN SE0012454940) (the "Bonds") (the "Bondholders") regarding certain amendments to the terms and conditions of the Bonds, as specified in the notice of Written Procedure dated 19 February 2020 (the "Proposals"). The last time and day for the Bondholders to vote on the Proposals was 17.00 (CET) on 16 March 2020.
In the Written Procedure a quorum of 68.30 per cent. of the adjusted nominal amount and a majority of 89.90 per cent. of the adjusted nominal amount for which Bondholders replied in the Written Procedure were achieved and the Proposals were therefore passed.
DDM Debt will pay a consent fee to the eligible Bondholders amounting to EUR 250 per bond (the "Consent Fee"). The Consent Fee will be payable to all persons who are registered as bondholders in the debt register kept by Euroclear Sweden on 18 March 2020 and the payment of the Consent Fee is expected to be made five (5) business days thereafter through Euroclear Sweden's account-based system.
The amendments are effective as of 16 March 2020.