Autocirc gives notice for conditional early redemption of its bonds
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN. THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. NO PUBLIC OFFERING WILL BE MADE IN THE UNITED STATES AND THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
Autocirc Group AB (publ) (the "Company") today informed the holders of its up to SEK 1,500,000,000 senior secured callable floating rate bonds 2022/2025 with ISIN SE0017885916 issued by the Company (the "Bonds") of its intention to redeem the Bonds early, conditional upon the satisfaction by the Company of all conditions precedent required for utilisation under new debt facilities (the "Redemption").
Conditional Early Redemption
Today, 28 May 2024, the Company has sent a conditional notice for early redemption (the "Notice") to each person registered in the debt register (Sw. skuldbok) with respect to the Bonds on the Record Date.
The redemption date for the Bonds will, subject to the satisfaction or waiver of the Condition (as defined below) or extension of the notice period, be 17 June 2024 (the "Redemption Date"). The Bonds will be redeemed at an amount equal to 104.375 per cent. of the nominal amount (i.e. SEK 1,304,687.50 per Bond) (the "Redemption Price") plus accrued but unpaid interest up to and including the Redemption Date. The redemption amount will be disbursed to each person who is registered on a securities account as a direct registered owner (Sw. direktregistrerad ägare) or an authorised nominee (Sw. förvaltare) with respect to a Bond at end of business on 10 June 2024 (the "Record Date") in the debt register.
The Redemption of the Bonds described herein is, in all respects, subject to and conditional upon the satisfaction of all conditions precedent required for utilisation under the new debt facilities funding the Redemption (the "Condition") and the Company shall not, and shall have no obligation to, redeem any of the Bonds pursuant to the Notice unless the Condition has been satisfied or waived. The Company will notify the Bondholders of the satisfaction or waiver of the Condition or the extension of the notice period through a press release no later than 7 June 2024.
If the Condition is satisfied or waived and the notice period has not been extended by the Company, the Bonds will be de-listed from Nasdaq Stockholm.
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This information is information that Autocirc Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11.30 CET on 28 May, 2024.
For further information, please contact:
Gunilla Andersson, CFO Autocirc Group
E-mail: [email protected]
Phone: +46 (0)722 184736
Autocirc works for a circular transition in the automotive industry. We ensure that used car parts get back on the road again - or that materials and components can be used in completely different products and contexts. By moving from new production to reuse, remanufacturing, repurpose and recycling of car parts, we are making the second-hand market the first choice. A sustainable choice for a smarter automotive industry and a better alternative, also for the next generation.
Autocirc was founded in 2019 and is growing rapidly. Today, the group consists of 63 companies with over 1100 employees and operates in Sweden, Norway, Finland, the UK, Poland, Germany and France.
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