Magle Group enters into agreement with Danske Bank regarding repayment schedule and agreement with the bondholders committee regarding the requirement for additional capital
Magle Group enters into agreement with Danske Bank regarding repayment schedule and agreement with the bondholders committee regarding the requirement for additional capital
Magle Chemoswed Holding AB (publ) ("Magle" or the "Company") has today, on 30 June 2026, entered into (i) an agreement with Danske Bank A/S regarding repayment schedule and (ii) an agreement with the bondholders’ committee regarding the requirement for additional capital.
Agreed repayment schedule
As previously disclosed on 7 June 2026, the Company has a SEK 32.5 million credit facility with Danske Bank A/S (the "Danske Bank Facility") which was scheduled to mature on 30 June 2026. The Company today, on 30 June 2026, announces that it has reached an agreement with Danske Bank A/S regarding a structured repayment schedule for the outstanding amount under the Danske Bank Facility. The key terms of the agreed repayment schedule are as follows:
- a repayment of SEK 15 million to be made by 31 August 2026;
- the remaining outstanding amount to be repaid by 30 October 2026; and
- interest for the extended period to accrue at the ordinary rate of STIBOR 90 +1.75% applicable under the Danske Bank Facility (i.e., not at any default rate).
The agreed repayment schedule provides the Company with additional time to manage its liquidity position and supports the Company's continued operations and long-term development.
Agreement with the bondholders’ committee regarding the requirement for additional capital
Pursuant to the written procedure in respect of its senior secured floating rate bonds with ISIN SE0025197403 submitted by the Company on 26 March 2026, and accepted by the bondholders on 23 April 2026, the bondholders agreed that the maintenance test contained in the terms and conditions for the bonds should not be tested on the reference dates falling 31 December 2025 until (and including) 31 December 2026, provided that, if the Issuer fails to raise no less than SEK 100 million, or such lower amount as agreed between the Company and the bondholders' committee, by 30 June 2026, the maintenance test shall be reinstated.
As part of the ongoing discussions between the Company and the bondholders' committee regarding a restructuring of the Company’s outstanding financing, the bondholders' committee has today, on 30 June 2026, agreed that the amount required to be raised by the Company for the maintenance test to not be reinstated shall be equal to zero.