Esmaeilzadeh Holding AB (publ) (”EHAB”) today announces that the previously communicated mandatory securities exchange has been successfully approved after the conclusion of the written procedure initiated on 26 February 2025 (the "Written Procedure"). Bondholders representing 96.30 percent of the represented outstanding adjusted nominal amount voted in favour of the securities exchange and proposed amendments. EHAB's existing bonds 2022/2025 with ISIN SE0017133564 (the “Existing Bonds”) will thus be mandatorily redeemed and replaced with a new secured bond loan (the “New Bonds” and the “Securities Exchange”, respectively).
Today, EHAB has been notified by the bondholders’ agent that the Written Procedure has been concluded, that it was quorate, and that a clear majority voted in favour of the proposed amendments. The bondholders’ approval of the Securities Exchange is effective immediately but subject to the fulfilment of certain administrative conditions no later than 30 April 2025, as set out in the notice of the Written Procedure.
“We are grateful for the constructive and understanding dialogue with our bondholders. The new bond, with a three-year tenor, will give EHAB ample time to continue to develop our portfolio companies. We are committed to becoming debt free, and the extension gives us enough time to repay the bond either through a listing or a sale of part of our holdings”, concludes the founder and Chairman Saeid Esmaeilzadeh.
The issue date for the New Bonds is expected to be 28 April 2025. The total nominal amount of the New Bonds is expected to be approximately SEK 1,758 million, but may be lower should prepayments or cancellations of Existing Bonds occur prior thereto.
In connection with the issue of the New Bonds, the Existing Bonds will be redeemed at a price equal to 103.25 percent of the nominal amount, including accrued but unpaid interest from (but excluding) the previous interest payment date to (and including) the issue Date. The redemption price will be paid through the issuance of New Bonds to the persons who are registered as a holders of the Existing Bonds in the register maintained by Euroclear Sweden on the record date for the Securities Exchange, which EHAB will announce by way of a press release upon fulfilment of the conditions and in any case prior to the Securities Exchange.
ABG Sundal Collier AB and Pareto Securities AB have acted as financial advisors in connection with the written procedure. Gernandt & Danielsson has acted as legal counsel.
For further information, please contact:
Mikael Ericson, CEO
Email: Mikael.ericson@ehab.group
Saeid Esmaeilzadeh, Chairman of the Board
Email: saeid@ehab.group
The information was submitted for publication, through the agency of the contact persons set out above on 24 March 2025, 17:35 CET.
About EHAB
EHAB is an entrepreneurially driven investment company that invests in and develops resilient companies within selected industries. The primary focus is investments in operational groups with opportunities for both organic and acquisition-based growth. For more information, see www.ehab.group.