SGL Group ApS (the "Company") hereby announces a delay of its intention to make an early redemption of its senior secured callable floating rate bonds 2023/2028 with ISIN NO0012826033 (the "Existing Bonds"), which was announced on 14 February 2025 by way of a press release and a call notice to the holders of the Existing Bonds (the "Redemption") and confirms that the Redemption will not occur as planned.
The Redemption was conditional upon, amongst other things, the Company satisfying the conditions precedent for disbursement of the net proceeds from escrow from its newly issued EUR 375,000,000 senior secured floating rate bonds with ISIN NO0013469957 (the "New Bonds"). The Company hereby informs that such conditions precedent will not be satisfied on or before the contemplated redemption date (being 3 March 2025) due to Canada Border Services Agency's (CBSA) notification process regarding the change from domestic to foreign ownership for ITN's bonded warehouse license resulting in a postponement of the closing of the Company's acquisition of ITN Logistics Group (closing of which being a condition for disbursement under the terms and conditions of the New Bonds). The Company is confident that the matter will be resolved and expect to, by way of a separate press release and a new call notice, inform holders of the Existing Bonds of a new voluntarily redemption in accordance with the terms and conditions of the Existing Bonds once a new closing date has been confirmed.
For further information about the Company, please contact:
Clara Nygaard Holst, Global CFO or Simon Kusk, Head of Group Finance
investor@scangl.com | (+45) 32 48 00 00
This information is information that SGL Group ApS is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 22.00 CET on 25 February 2025.
