Magle Chemoswed Holding AB (publ) initiates implementation of restructuring following successful written procedure
Magle Chemoswed Holding AB (publ) initiates implementation of restructuring following successful written procedure
Magle Chemoswed Holding AB (publ), org. no. 556913-4710 (the "Company"), today on 2 September 2026 announces that it will initiate the implementation of the contemplated amendments and waivers as set out in the notice of the written procedure dated 13 July 2026 (the "Written Procedure") in relation to its (i) senior secured bonds 2025/2028 with ISIN SE0025197403 (the "Initial Bonds") and (ii) senior secured bonds 2026/2028 with ISIN SE0029503697 (the "Bonus Bonds" and together with the Initial Bonds, the "Existing Bonds"). The Company also provides an updated time plan for the implementation steps set out below.
Background
On 13 July 2026, the Company initiated a written procedure (the "Written Procedure") in relation to its (i) senior secured bonds 2025/2028 with ISIN SE0025197403 (the "Initial Bonds") and (ii) senior secured bonds 2026/2028 with ISIN SE0029503697 (the "Bonus Bonds" and together with the Initial Bonds, the "Existing Bonds"), requesting the holders of the Existing Bonds to vote in favour of certain amendments and waivers in order to implement a restructuring of the Company's outstanding bonds and capital structure (the "New Structure"). The New Structure includes, inter alia, (i) the issuance of super senior secured bonds with a total nominal amount of up to approximately SEK 203 million (the "Super Senior Bonds"), (ii) a debt-for-equity swap whereby part of the Initial Bonds are written down and cancelled and the holders of Initial Bonds receive new shares in the Company, (iii) the restatement of the remaining nominal amount of the Existing Bonds as new debt instruments (the "Reinstated Bonds"), and (iv) the issuance of new shares to holders of the Existing Bonds as consent fee, upfront fee and underwriting fee, respectively. On 30 July 2026, the Company announced the successful completion of the Written Procedure, with a sufficient number of holders of Existing Bonds having participated and the requisite majority having voted in favour of the proposals. On 26 August 2026, the extraordinary general meeting of the Company resolved on the matters necessary to implement the New Structure.
Updated time plan for implementation
The following is the updated time plan for the implementation of the New Structure. All dates are preliminary and subject to change. The Company will update the market if any material changes to the time plan are made.
| Date | Action |
| 2 September 2026 | Issuance of Super Senior Bonds, comprising: (a) Set-Off Super Senior Bonds issued to lenders under the bridge loan facility by way of set-off, (b) Cash Super Senior Bonds issued to subscribing bondholders against payment of the subscription price, and (c) Elevated Super Senior Bonds issued to bondholders and bridge lenders who have submitted Initial Bonds for elevation. |
| 9 September 2026 | Record date for delivery of Reinstated Initial Bonds and Reinstated Bonus Bonds. Record date for holders of Initial Bonds to receive Consent Fee Shares and D2E Shares. |
| 10 September 2026 | Structural Write Down completed. Initial Bonds and Bonus Bonds cancelled in full. Issuance of Reinstated Bonds and delivery of security confirmation letters in respect of the Reinstated Bonds. The board of directors of the Company resolves, pursuant to the issue authorisation granted by the extraordinary general meeting on 26 August 2026, on a directed share issue to bondholders in accordance with the Written Procedure. Subscription of new shares takes place. |
| 14 September 2026 | Registration of new shares with the Swedish Companies Registration Office (Sw. Bolagsverket). Delivery of new shares initiated. |
For more detailed information regarding the New Structure (including definitions set out herein), reference is made to the notice of the Written Procedure dated 13 July 2026, which is available on the Company's website, https://maglegroup.com.