ADDvise repays the bond loan 2014/2019 (ISIN:SE0006245460)16 Oct, 2017
ADDvise Group AB (publ) (”ADDvise” or the ”Company”) issued, in October 2014, a bond loan of maximum 100 MSEK with ISIN SE0006245460 and current outstanding amounts to 87 MSEK (the “Bond Loan”)
As previously communicated, for instance in the prospectus published on September 15 regarding the Company’s bond loan of maximum 240 MSEK 2017/2022, the above- mentioned bond loan are, inter alia, intended to reduce the financing cost to better reflect the general interest rate climate. The bond loan of maximum 240 MSEK 2017/2022 run with an interest rate of 7.25 per cent while the Bond Loan runs with an interest rate of 10.00 per cent.
ADDvise therefore announces that full repayment of the Bond Loan will be made through voluntary redemption, which means that that debtors will receive 101.0 per cent of the nominal amount plus accrued interest calculated from (but excluding) the most recent interest due date (and inclusive) the day of voluntary redemption. Repayment will be made on November 10, 2017 to those who are registered owners of the bond on the record date on November 3, 2017. At the time of payment, the debtors will receive 101.0 per cent of the nominal amount and accrued interest calculated until November 10, 2017.
The cost of the early repayment of the Bond Loan amounts to approximately 3.0 MSEK. Of which approximately 0.9 MSEK is compensation for early redemption to the bondholders and the remaining amount is the result of recurring advisory costs. Only 0.9 MSEK has a cash flow effect. The cost will be charged to ADDvise Group’s results in the fourth quarter of 2017.