Intrum invites noteholders to claim their exchange entitlements and to participate in the rights offering for new money notes as part of its Recapitalisation Transaction
tänään klo 09.00 ∙ MFN
Notice to holders of senior unsecured notes issued by Intrum AB (publ) with identifiers (“ISIN”): XS2211136168 / XS2211137059; XS2034925375 / XS2034928122; XS2052216111 / XS2052216202; XS2566292160 / XS2566291865; and XS2093168115; and medium-term notes issued by Intrum AB (publ) with identifiers: SE0013105533; SE0013105525; SE0013104080; and SE0013360435 (the “Notes” and holders of the Notes, the “Noteholders”)
Unless given a different meaning in this press release, terms defined in the press releases from July 2024 to May 2025 have the same meaning when used herein.
As one of the final steps in the implementation of its Recapitalisation Transaction, Intrum is pleased to invite each Noteholder to:
(i) claim its Exchange Note and Noteholder Ordinary Share entitlements; and
(ii) (at each Noteholder’s option) participate in the rights offering to subscribe for up to its pro rata share of New Money Notes, or to appoint a nominee to participate (subject to subscriber eligibility),
in each case in accordance with Intrum’s Chapter 11 Plan and Swedish Reorganisation Plan.
It is strongly recommended that Noteholders claim their entitlements in accordance with the below instructions by the specified deadline. Exchange Note and Noteholder Ordinary Share entitlements that are not claimed by Noteholders will be delivered to the designated holding period trustee, and Noteholders will need to take additional steps to retrieve such entitlements. [1]
Closing of the Recapitalisation Transaction is expected to occur by mid-July. On the closing date (i) the Exchange Notes and New Money Notes will be issued, (ii) the Noteholder Ordinary Shares will be distributed and (iii) the existing Notes will be cancelled. The Company currently expects that pending regulatory approvals required to complete the hive-down will be received prior to the closing date.
Instructions for Noteholders
Noteholders that wish to claim their Exchange Note and Noteholder Ordinary Share entitlements are strongly encouraged to do so by following the instructions set out in and completing the Holder Registration Form, which is available on the Information Agent’s dedicated portal accessible here – https://deals.is.kroll.com/intrum.
Noteholders are also invited to subscribe for the New Money Notes (subject to subscriber eligibility) by following the instructions set out in and completing the Holder Subscription Form, which is available on the Information Agent’s dedicated portal accessible here –https://deals.is.kroll.com/intrum. Eligibility requirements are set out in the ‘Rights Offering Procedures’, which is also available on the Information Agent’s dedicated portal.
As further described in the Holder Registration Form and Rights Offering Procedures, the relevant deadlines for Noteholders are as follows:
- 5 p.m. CEST on 20 June 2025 – Subscription Instruction Deadline / Noteholder Record Date / Custody Instructions Deadline
Deadline for Noteholders to submit their forms to claim their Exchange Note & Noteholder Ordinary Share entitlements and subscribe for the New Money Notes.
The steps to be completed are as follows:
- Holder Registration Form to be submitted,
- Holder Subscription Form (and documents noted therein) to be submitted (in case of participation in the New Money Notes only), and
- electronic instructions to block Notes (including UIR generated upon submission of the Holder Registration Form / Holder Subscription Form, as applicable) to be sent, or in the case of MTNs held through Euroclear Sweden, UIR to be delivered to the directly registered owners (Sw. direktregistrerade ägare) of the MTNs.
Important Note: entitlements to Exchange Notes, Noteholder Ordinary Shares and New Money Notes will be calculated by reference to the Noteholder Record Date.
- 30 June 2025 – Initial Funding Letters Date
If a Noteholder (or appointed nominee) has elected to subscribe for up to its pro rata entitlement to New Money Notes, it will receive an Initial Funding Letter from the Information Agent on this date which will state its allocation of New Money Notes and funding details for the purchase price of the New Money Notes.
The Initial Funding Letters sent to Backstop Providers will also set out their allocation of backstopped New Money Notes and funding details in respect of the same.
- 1 p.m. CEST on 3 July 2025 – Subscription Payment Deadline
Deadline for subscribers of the New Money Notes to fund the purchase price of the New Money Notes in accordance with their Initial Funding Letter.
- 1 p.m. CEST on 4 July 2025 – Supplemental Funding Letters Date
If required (e.g. if a subscriber fails to fund by the Subscription Payment Deadline), each Backstop Provider of the New Money Notes will receive a Supplemental Funding Letter from the Information Agent on this date which will state its revised allocation of New Money Notes and funding details for the purchase price of its additional allocation of New Money Notes.
- 1 p.m. CEST on 8 July 2025 – Backstop Funding Deadline
If required, deadline for Backstop Providers of the New Money Notes to fund (directly or indirectly through one or more of their nominees) the revised purchase price of the New Money Notes in accordance with their Supplemental Funding Letter.
- 10 July 2025 – Anticipated Restructuring Effective Date / Closing Date
The Company reminds all Backstop Providers that they are contractually committed to subscribe (directly or indirectly through one or more of their nominees) for the New Money Notes.
Important Note: The above noted deadlines may be amended or extended at any time by the Company in consultation with the Majority Backstop Providers.
Eli Heinäkuun puolessa välissä tuon mukaan uudet osakkeet menevät jakoon. Tuossa lopussa on tarkemmat päivämäärät, eli olisiko tuo 10.7 tarkka päivämäärä.
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