EQS-News: R-LOGITECH S.A.M.
/ Key word(s): Agreement
Monaco, 15 June 2024 - R-LOGITECH S.A.M. (the "Company" or "R-LOGITECH") informs that it has reached an agreement in principle with the members of the ad hoc group (the "AHG") of holders of its EUR 254,324,000 (originally EUR 200 million) 10.250% Notes 2018/2024 (the "2024 Notes") and the up to EUR 50 million 10.25% notes 2022/2027 (the "2027 Notes", and together the "Notes"), which represent more than €100 million of outstanding nominal amount under the Notes. In accordance with the agreement in principle, revised terms of the 2024 Notes that are expected to be proposed to the noteholders include:
In addition, it is envisaged that the Company will offer to all holders of the Notes a buyback of the Notes for cash in an amount equal to 5% of their principal amount, up to an aggregate of €60,000,000, which amount will be shared pro rata if the exchange is oversubscribed. Accordingly, R-Logitech will commit to a corresponding tender offer following the implementation of the resolutions.
R-LOGITECH believes that this proposal provides the Company and its stakeholders with adequate time and support to run a comprehensive sales process for its major asset, the stake in Thaumas, The Company, the AHG, the Common Representative of the Notes and other large holders of the Notes are currently negotiating and expect to enter into a restructuring support agreement to support the restructuring of the Company on these terms, with R-LOGITECH recommending, the noteholders vote in favor of the revised resolutions proposed by the AHG.
The above amendments will be formally introduced by way of a countermotion from the AHG. As soon as the countermotion has been received, noteholders will find the countermotion alongside with amended voting forms for the upcoming noteholders' meeting to be held by way of a meeting without vote during the period from 22 June 2024 0:00 CEST until 24 June 2024 (24:00) CEST on the Company's website (www.r-logitech.com) under "https://www.r-logitech.com/bond/". Noteholders are asked to use the amended voting form accordingly.
About R-LOGITECH S.A.M.: R-LOGITECH is one of the leading international ports infrastructure operators and logistics services providers in the natural resources sector. The group's primary business lines are port and terminal management and specialist logistics.
R-LOGITECH S.A.M. investorrelations@r-logitech.com
17.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | R-LOGITECH S.A.M. |
7, rue du Gabian | |
98000 Monaco | |
Monaco | |
Phone: | +377 97 98 67 71 |
E-mail: | investorrelations@r-logitech.com |
Internet: | www.r-logitech.com |
ISIN: | DE000A3LJCA6, DE000A3K73Z7 |
WKN: | A3LJCA, A3K73Z |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart |
EQS News ID: | 1926595 |
End of News | EQS News Service |
1926595 17.06.2024 CET/CEST