Bonava agrees on extension of time with lenders
Bonava has today agreed with its lenders to extend the deadline to provide evidence of the required bondholder support to 13 January 2024, at which time the written procedure is expected to be completed.
Bonava AB (publ) ("Bonava" or the "Company") announced on 20 December 2023 a long-term financing package to strengthen Bonavas's liquidity and financial position. As stated in the press release, Bonava has undertaken to its credit facilities lenders to provide evidence by 21 December 2023 that bondholders representing 2/3 of the outstanding nominal amount will vote or have voted in favour of the amendment of the terms and conditions of the Company's outstanding bond loan, of a nominal amount of SEK 1,200 million, including, among other, an extension of the bond loan to 11 March 2027.
Bonava's expectation is that the proposed amendment of the terms and conditions of the bond loan will be approved in the written procedure, considering that bondholders representing approximately 63 per cent of the nominal amount of the bond loan have undertaken to participate in and vote in favour of the written procedure.
For more information, please contact:
Lars Granlöf, CFO
Susanna Winkiel, acting Head of Investor Relations
Tel: +46 70 461 28 28
Fredrik Hammarbäck, Group Head of Press and Public Affairs
Tel: +46 739 056 063
About Bonava AB (publ)
Bonava is a leading residential developer in Europe with the purpose to create happy neighbourhoods for the many. The Company is the first residential developer in Europe to receive approval from the Science Based Targets initiative for its climate targets. With its 1,600 co-workers, Bonava develops residential housing in Germany, Sweden, Finland, Estonia, Latvia and Lithuania, with net sales of approximately SEK 14 billion in 2022. Bonava's shares and green bond are listed on Nasdaq Stockholm.
For more information about us, visit: bonava.com
