Luxembourg/Monaco, 6 August 2024 – R-Logitech Finance S.A. (“Issuer”) and R-Logitech S.A.M. (“Guarantor”) inform their bondholders that according to the notary public acting as chairman of the vote, the holders of the up to EUR 50 million Notes due on 26 September 2027 of R-Logitech Finance S.A. (ISIN DE000A3K73Z7) (“2022/2027 Bonds”) have approved in a vote without meeting held from 31 July 2024, (0:00) CEST until 2 August 2024 (24:00) CEST, reaching the required quorum with 89.1% of all outstanding bonds participating in the vote and with 98.53% of the votes cast voting in favour, the voting proposals of the Issuer as published on 16 July 2024.
The resolutions mirror the resolutions already passed by the holders of the 2018/2024 Notes issued by R-Logitech S.A.M., in particular:
- Amendment of § 4 of the Terms and Conditions of the Notes, i.e. possibility to capitalize the interest instead of periodical interest payments (PIK interest).
- Amendment of § 6 of the Terms and Conditions of the Notes: Notes to mature in 2026, redemption and early redemption and redemption amounts analogously to the 2018/2024 Notes;
- Amendment of § 10 (Events of Default) and additional restrictions affecting the restricted group;
- Provision of Security (shared with the 2018/2024 Notes);
- Issue of purchase rights to subscribe to a new money instrument that benefits from the same terms as an interim loan granted by certain bondholders acting as backstop investors.
The full publication of the resolutions passed by the bondholders can be found in the Bundesanzeiger and on the Guarantor’s website in due course.
With these additional resolutions passed today, R-Logitech Group takes the second step for a consensual refinancing and restructuring of the Group’s bonds. The resolutions are still subject to certain conditions precedent and are not yet implemented.
About R-LOGITECH S.A.M.:
Via its indirect minority participation in Euroports Group, R-LOGITECH benefits from one of the leading international ports infrastructure operators and logistics services providers in the natural resources sector.
R-LOGITECH S.A.M.