Net Gaming Europe obtains approval from bondholders regarding certain amendments to the terms and conditions (primarily an extension of the term to 14 September 2022) of its outstanding senior secured bond loan 2017/2020

Net Gaming Europe AB (publ) (“Net Gaming”) announced on 21 April 2020 that it is, through a written procedure, soliciting approval from holders of its bonds (the “Bondholders”) with ISIN SE0010297572 (the “Bonds”) to make certain amendments to the terms and conditions of the Bonds.

A requisite majority of the voting bondholders voted in favor of the request to amend the terms and conditions of the Bonds. The bondholders´ consent to amend the terms and conditions for the Bonds were deemed to be approved as from the expiry of the voting period as per 18 May 2020.

The results of the written procedure will also be sent by regular mail to the Bondholders and be published on the websites of Net Gaming (https://www.acroud.com/en/written-procedure) and Nordic Trustee & Agency AB (www.nordictrustee.com and www.stamdata.com).

Each Bondholder is eligible to receive a consent fee in an amount equal to 1.00 per cent. of the nominal amount of each Bond held by the relevant Bondholder on the date falling three (3) Business Days from the date hereof. The settlement of the consent fee is expected to occur on 29 May 2020.

Downloadable documents: Terms & Conditions

Previous communication per 21st April 2020

Written procedure for the outstanding senior secured bond 2017/2020

Net Gaming Europe AB (publ) has requested that Nordic Trustee & Agency AB (publ), acting in its capacity as agent for the bondholders, initiates a written procedure in accordance with the terms and conditions of the bonds. The purpose of the written procedure is for the bondholders to grant consent to certain amendments to the terms and conditions of the bonds. The overall objective of the amendments proposed herein is to postpone the bonds’ final redemption date by two years, to September 14, 2022, in order to allow sufficient time to improve operational performance within the group and hence increase and improve refinancing options for Net Gaming in a more steady market. The proposed amendments can be found in the notice of written procedure which is available below.

 

Download : “Downloadable documents