Azerion initiates a Written Procedure and launches a Subsequent Bond Issue
14 Giugno 2024 - 7:30AM
Azerion initiates a Written Procedure and launches a Subsequent
Bond Issue
Azerion initiates a Written Procedure and
launches a Subsequent Bond Issue
Amsterdam, 14 June 2024 -
Azerion Group N.V. (the "Company" or
"Azerion") announces today that it has:
- Instructed the agent for the
Company's senior secured bonds with ISIN NO0013017657 held within a
EUR 300 million framework, (the "Existing Bonds")
to initiate a written procedure to request the bondholders to vote
in favour of amending the terms and conditions of the Bonds (the
"Terms and Conditions") (the "Written
Procedure"), and
- Instructed Pareto Securities to
conduct a series of fixed income investor meetings. Subject to
market conditions a subsequent bond issue of up to EUR 50 million
(the "Subsequent Bond Issue" and the
"Subsequent Bonds") under the framework detailed
above may follow.
For the Subsequent Bond Issue to be allowed
under the Terms and Conditions, the Company is proposing the
following adjustments to the Terms and Conditions:
- An increase of
the Leverage Ratio for the purpose of the Incurrence Test from
2.50:1 to 3.00:1
- A decrease of
the ratio of Net Interest Bearing Debt to EBITDA for the purpose of
the Distribution Test from 2.25:1 to 2.00:1
- Certain changes
to the calculation adjustments of the Leverage Ratio with respect
to the French subsidiary Hawk SAS, registration number 795 236 868
(“Hawk”)
(together, the “Proposal”).
The full details of the Proposal are set out in
the notice of Written Procedure. Furthermore, the Company has had
discussions with a number of its largest bondholders and obtained
signed voting undertakings from bondholders representing over 40%
of the total bond volume. In addition, certain other investors have
communicated that they will vote in favour of the proposal, which
combined with the voting undertakings, brings the support obtained
from bondholders to over 60% of the total bond volume.
The agent will deliver the notice of the Written
Procedure to all bondholders on 14 June 2024. The written procedure
will end on 2 July 2024. To be eligible to participate in the
Written Procedure a person must fulfil the formal criteria for
being a bondholder on 25 June 2024.
Pareto Securities AB has been retained as
financial advisor in connection with the Written Procedure and the
Subsequent Bond Issue.
The notice to the Written Procedure is available
on the Company's website (www.azerion.com/reports/) and on Stamdata
(www.stamdata.com).
About AzerionFounded in 2014,
Azerion (EURONEXT: AZRN) is one of Europe’s largest digital
advertising and entertainment media platforms. Azerion brings
global scaled audiences to advertisers in an easy and
cost-effective way, delivered through our proprietary technology,
in a safe, engaging, and high quality environment, utilizing our
strategic portfolio of owned and operated content with
entertainment and other digital publishing partners.
Having its roots in Europe and with its
headquarters in Amsterdam, Azerion has commercial teams based in
over 23 offices around the world to closely support our clients and
partners to find and execute creative ways to make a real impact
through advertising.
For more information visit: www.azerion.com
For further information, please
contact:Andrew BuckmanVP Investor
Relationsir@azerion.comInformation:This
information is information that Azerion Group N.V. is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of
the contact person set out above, at 07:30 CET on 14 June 2024.
Grafico Azioni Azerion Group NV (EU:AZRN)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Azerion Group NV (EU:AZRN)
Storico
Da Giu 2023 a Giu 2024
