Eastnine - Written Procedure (SE) - Launch

Eastnine initiates a written procedure for its senior unsecured green bonds - ISIN: SE0013719788

13 SEPTEMBER 2023

Full announcement including disclaimers and offer restrictions available via Source: Cision

Eastnine AB (publ) (the “Company” or “Eastnine”) is requesting approval from its bondholders to amend the terms and conditions for the Company’s outstanding green bonds in order to arrange for an early redemption.

Eastnine is requesting approval from bondholders of its outstanding EUR 45,000,000 senior unsecured callable floating rate green bonds 2021/2024 (ISIN: SE0013719788) (the “Bonds”) to amend the terms and conditions of the Bonds (the “Terms and Conditions”), as part of the Company’s plan to redeem the Bonds. The proposed amendment includes the possibility for Eastnine to redeem all, but not some only, of the Bonds in full on any business day falling on or after the first issue date up to (but excluding) the final redemption date, at a price per bond equal to 102.25 per cent of the nominal amount.

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1. Background

On 10 August 2023, the Issuer announced by way of press release that it completed the divestment of its entire holding in Melon Fashion Group (MFG). On the back of a strengthened liquidity position as a result of the divestment, the Issuer seeks to redeem the Bonds.

The Terms and Conditions does not allow for redemption of the bonds until the final redemption date (8 July 2024) unless a Substantial Repurchase Event has occurred or if the early redemption is financed (in part or in full) by the issuance of a new Market Loan on or after the date falling six months prior to the Final Redemption Date (8 January 2024). The Issuer therefore hereby asks for the Holders’ consent to amend the Terms and Conditions to allow for an early redemption of the Bonds as described under Section 2 (Proposed amendments to the Terms and Conditions) in this Notice (the “Proposed Amendments”).

If the Request (as defined below) is approved, the Issuer intends to redeem any outstanding Bonds at the price and on the terms and conditions set out in the Amended and Restated Terms and Conditions (as defined below). Holders representing more than fifty (50) per cent. of the Adjusted Nominal Amount have indicated their intention to vote in favour of the Request (as defined below)."

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