Key Amendments Approved for Baltic Horizon Fund Bonds
Baltic Horizon Fund sought the approval of its bondholders for several amendments related to its EUR 42 million floating rate bonds set to mature in 2028. This written procedure occurred recently, allowing bondholders to engage in crucial decisions regarding the terms governing their investments.
Voting Procedures and Participation
Eligible bondholders registered in the official listing maintained by Nasdaq CSD SE were invited to participate in the voting process. On the appointed day, all holders of bonds with a total nominal value of EUR 22 million participated—this covered the complete nominal value of all outstanding bonds, ensuring that the quorum required for decision-making was met.
Unanimous Decisions Made
During the voting, bondholders reached an agreement on several significant amendments:
- The Debt Service Coverage Ratio will be adjusted, permitting a gradual decrease over specified timeframes, culminating in a more manageable target. This provides flexibility while maintaining financial stability.
- An additional requirement for early redemption of bonds worth EUR 3 million has been established. This mandate underscores the seriousness and commitment of the bondholders to their investment's stability.
- The introduction of amendment fees was agreed upon. The fees amount to EUR 95,000, which will be divided among the bondholders as part of the changes associated with the amendments. Additionally, for the early redemption decision, a total of EUR 200,000 has been arranged.
Transparency and Future Disclosure
Once the voting concluded successfully and the decisions were adopted, it was confirmed that these amendments would be published on the Baltic Horizon Fund's official website within three business days. This commitment to transparency highlights the fund's dedication to keeping all stakeholders informed.
Contact Information
For any further inquiries regarding these amendments or related information, Tarmo Karotam, the Baltic Horizon Fund manager, is available for contact. You can reach him at tarmo.karotam@nh-cap.com or visit the www.baltichorizon.com.
Frequently Asked Questions
What changes were approved for Baltic Horizon Fund bonds?
The bondholders approved several amendments to the bond terms, including adjustments to the Debt Service Coverage Ratio and new early redemption requirements.
How many bondholders participated in the voting?
All holders of bonds representing 100% of the nominal value participated in the voting process, ensuring adequate quorum.
What is the purpose of the amendment fees?
The amendment fees serve as compensation to bondholders for their consent regarding the modifications in the bond terms.
When will the amended Terms and Conditions be available?
The amended Terms and Conditions will be published on the Baltic Horizon Fund's website within three business days after the decisions were made.
Who can I contact for more information?
Tarmo Karotam, the Fund manager, is available for inquiries via email at tarmo.karotam@nh-cap.com.
