DGAP-Adhoc SLM Solutions Group AG: invitation to the holders of the Convertible Bonds 2017/2022 to hold a vote without meeting
DGAP-Ad-hoc: SLM Solutions Group AG / Key word(s): Financing
SLM Solutions Group AG invites the holders of the Convertible Bonds 2017/2022 to hold a vote without meeting on an extension of the maturity date and an increase of the interest rate for the extension period
Disclosure of inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014
Luebeck, January 25, 2022 - Today, the Management Board of SLM Solutions Group AG ("SLM Solutions" or the "Company", ISIN DE000A111338 (Shares), DE000A2GSF58 (Convertible Bonds 2017/2022), DE000A289N86 (Convertible Bonds 2020/2026) and DE000A3H3HP1 (Convertible Bonds 2021/2026)), with consent of the Supervisory Board, resolved to invite the holders of the EUR 58.5 million 5.50% convertible bonds issued by the Company in October 2017 (the "Convertible Bonds 2017/2022") to hold a vote without meeting for purposes of resolving on an amendment of the terms and conditions of the Convertible Bonds 2017/2022 to the effect that the maturity date (currently being October 11, 2022) is extended by two years to October 11, 2024 and, in turn, the interest rate is increased by 200 basis points to 7.50% for the period of extension. Such extension of the maturity date would provide the Company with additional time for the implementation of a long-term refinancing of the Convertible Bonds 2017/2022. However, the proposed amendments will also include the option of each bondholder to request (during a limited period of time after the amendments of the terms and conditions having become effective) the redemption of all or some of its Convertible Bonds 2017/2022 on October 11, 2022. The Company will publish a request for vote setting out the contemplated amendments in due course.