Caybon Holding AB (publ) - Announces final time plan of the written procedure of its bonds and issuance of new preference shares
On 26 April 2024, Caybon Holding AB (publ) (the "Company" and "Caybon") announced the successful completion of the written procedure that was initiated on 29 March 2024 (the "Written Procedure") in relation to the Company's outstanding SEK 600,000,000 senior secured bond loan with ISIN SE0017084478 (the "Existing Bonds"). The Written Procedure was initiated to request the holders of the Existing Bonds (the "Bondholders") to vote in favour of, among other things, amending the terms and conditions of the Existing Bonds in order to implement the proposed new capital structure of Caybon (the "Proposal"). The full details of the Proposal are set out in the notice of Written Procedure.
On 8 May 2024, Caybon issued its fully underwritten new super senior bond loan in an aggregate amount of up to SEK 130,000,000 and with ISIN SE0021923562 (the "New Super Senior Bonds") of which SEK 65,000,000 was provided in cash and SEK 65,000,000 was converted from Existing Bonds. Following the cancellation of Existing Bonds held by Caybon, the outstanding total nominal amount of the Existing Bonds amounts to SEK 510,000,000.
The table below sets out the details of the relevant record dates for the Existing Bonds and New Super Senior Bonds for implementing the contemplated updates to Caybon's capital structure, including the write down of Existing Bonds in an aggregate amount of SEK 365,000,000 and receipt of the new preference shares to be issued by Caybon (the "Preference Shares").
| Time Plan | Action |
|
15 May 2024
|
Record date for write down of Existing Bonds in a total amount of SEK 365,000,000 as payment by way of set-off for the Preference Shares. |
|
16 May 2024
|
The Board resolves to allot the issued Preference Shares. Payment for Preference Shares by set-off against SEK 365,000,000 Existing Bonds pro rata (write down). Record date under the Existing Bonds and New Super Senor Bonds for the issue of Preference Shares. This means that the person must be registered on a securities account with the CSD, as a direct registered or authorised nominee in order to receive Preference Shares. |
|
Expected to be on or about 21 May 2024
|
Registration with the Swedish Companies Registration Office of Preference Shares. |
|
Expected to be on or about 21 - 23 May 2024
|
Delivery of Preference Shares to the holders of Existing Bonds and New Super Senior Bonds as per the record date (being 16 May 2024). Removal of the trading blocks under the Existing Bonds and the New Super Senior Bonds. |
ABG Sundal Collier has been retained as financial advisor for the restructuring and issuing agent and manager for the New Super Senior Bonds, Roschier Advokatbyrå has been retained as legal advisor to Caybon and Gernandt & Danielsson Advokatbyrå has been retained as legal advisor to the Bondholders in connection with the Written Procedure.
For further information, please contact:
Johan Janing, CEO
Telephone: 076-894 06 65
Email: [email protected]
Daniel Grufman, CFO
Telephone: 070-415 84 38
Email: [email protected]
About Caybon
Caybon is a world-leading digital media company focused on branded content that drives tangible results.
Caybon is a group of scalable, digitally focused marketing companies specialised in content and distribution. The purpose is to offer advertisers and organisations a way to communicate with their target group in an editorial and relevant context. The various offerings include a range of solutions from online media, videos, performance related advertising, events as well as printed products. Revenues in turn are derived from content production as well as various forms of advertising solutions. The clients range from small to medium sized companies all the way up to multinational groups. The client base is thus diversified in terms of both size, sector and geography. The six brands within the Group are grouped into two business segments: Campaign and Network.
For more info visit www.caybon.com
Om Caybon
Caybon delivers data-driven branded content campaigns for more than 9,000 clients around the globe. We began life as Mediaplanet in Stockholm in 2002, and grew quickly into a media powerhouse with presence in Europe, North America, South America and Asia.
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