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Notice of Event of Default for bonds issued by SBT Properties AB (publ)

29 May 2020

To holders of the up to SEK 200,000,000 bonds due 2019 with ISIN SE0011256296, NO0010823628 and SE0011256304 (the “Bonds”) issued by SBT Properties AB (publ) (the “Issuer”) on 29 May 2018.

We have been informed that the Issuer has failed to redeem the Bonds on 29 May 2020 which is the Final Redemption Date of the Bonds.

The failure to redeem the Bonds on its Final Redemption Date constitutes an Event of Default and the Issuer will not been able to remedy it within five Business Days of the due date. The Agent shall, within twenty Business Days of the date on which the Trustee received actual knowledge of that an Event of Default has occurred and is continuing, decide if the Bonds shall be accelerated. If the Agent decides not to accelerate the Bonds, the Agent shall promptly seek instructions form the bondholders in accordance with clause 16 of the Terms and Conditions (Decisions by Bondholders).

As the Issuer is currently working on a proposal to the Bondholders, the Agent has decided to temporarily not accelerate the bonds. If the Issuer fails to initiate a written procedure within short the Agent may initiate a written procedure where the Bondholders will be requested to decide on how to proceed, either with an enforcement of the relevant security or with bankruptcy proceedings.

Any request from Bondholders representing at least ten (10) per cent of the Adjusted Nominal Amount will be dealt by way of a Written Procedure.

Please also refer to the latest information from the Issuer. 

If you have any questions, please do not hesitate to contact the Agent.

The Agent:

Intertrust (Sweden) AB
Beatrice Gustafsson
Tel: +46 70 141 10 82

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