Go North communicates updated terms regarding listing requirement for the contemplated new senior secured bonds
As set out in the press release issued by Go North Group AB (publ) ("Go North") on 25 January 2024, Go North has instructed the agent for its senior secured bonds with ISINs NO0012829847 (SEK Tranche) and NO0012829854 (USD Tranche) (the "Existing Bonds") to initiate a written procedure to request the bondholders to vote in favour of Go North's proposal regarding the future capital structure of Go North and its subsidiaries. A notice of written procedure was issued by the agent on 25 January 2024 (the "Written Procedure") and the voting deadline is set at 12:00 CET on 16 February 2024.
As part of the requests set out in the Written Procedure, Go North will, provided that the requests pursuant to the Written Procedure are approved by a requisite majority of holders of the Existing Bonds, issue new senior secured bonds in an aggregate amount of USD 26,180,000 (the "New Senior Secured Bonds"). In the Written Procedure, it is stated that the New Senior Secured Bonds shall not be listed on any regulated market or MTF. However, based on Go North's discussions with certain holders of Existing Bonds, Go North has decided to agree that the New Senior Secured Bonds shall be admitted to trading on the Open Market of the Frankfurt Stock Exchange. Go North shall ensure that the New Senior Secured Bonds are admitted to trading on the Open Market of the Frankfurt Stock Exchange within two months after the first issue date of the New Senior Secured Bonds with the intention to have such listing completed within 30 days after the first issue date of the New Senior Secured Bonds.