on Fiven ASA
Fiven ASA Announces Plan to Redeem EUR 110m Bonds
On 21 June 2024, Fiven ASA declared its intention to redeem its outstanding EUR 110 million senior secured sustainability-linked floating rate bonds. This follows the news from 4 June 2024, where OpenGate Capital, the primary shareholder of Fiven, agreed to sell Fiven to Kymera International, LLC, a company managed by Palladium Equity Partners, LLC.
The terms of the acquisition were not disclosed. The redemption of the bonds will be executed according to clause 9.3 of the bonds' terms, which covers special redemption upon a change of control event. The redemption and the acquisition's closing are anticipated to occur in the third quarter of 2024.
This announcement should not be viewed as an absolute obligation for Fiven to redeem the bonds. Detailed terms, such as the redemption date, record date for bondholders, and the redemption amount, will be disclosed if the redemption proceeds, including any applicable sustainability-linked redemption premium.
R. P.
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