NEW YORK–(BUSINESS WIRE)–Holders of certain notes issued by Essity Capital B.V. and Essity Aktiebolag (publ) (together “Essity”) due in 2029, 2030, and 2031 (the “Notes”) formed an Ad Hoc Bondholder Group (the “Group”) in January 2024 and appointed Houlihan Lokey as financial advisor and White & Case as legal advisor.
The Group re-iterates its position that Essity has been in continual default under the terms and conditions of the Notes since the signing of the irrevocable undertaking of the sale of shares in Vinda via a public offer on 15 December 2023.
The Group has twice delivered letters to Essity dated 2 February and 12 February demanding the repayment of the Notes. The Group is willing to discuss with Essity the manner and terms on which such repayment would be made.
Today, 22 March 2024, the Group has requested Essity to convene a General Meeting of Noteholders in accordance with the terms and conditions of the Notes and the related Agency Agreement.
The Group is made up of international bondholders currently holding over €270 million nominal amount of the Notes, and it continues to expand. If any bondholder is interested in joining the Group, please contact Houlihan Lokey on the email below.
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