Baltic Horizon Fund Seeks Consent from Investors
Baltic Horizon Fund, known as the Issuer, has started a process to amend the agreements related to its EUR 42 million floating rate bonds, which are set to mature in 2028 (ISIN EE3300003235). As it stands, the total nominal value of the Bonds outstanding is EUR 18,999,997.80. This adjustment comes after the Issuer redeemed EUR 23,000,002.20 of the Bonds according to the established Terms and Conditions.
Requesting Flexibility in Bond Terms
The primary reason for this proposed amendment is to replace the current regulation concerning voluntary early redemption of the Bonds. The Issuer is aiming for more flexibility when it comes to executing early redemptions, an avenue that could benefit the Fund in the long run.
Engagement with Bondholders
To ensure that this change is well-received, Northern Horizon Capital AS, acting as the fund manager, has actively engaged with the Holders of the Bonds. Initial indications suggest that the Holders are generally supportive of the planned amendments. However, this informal agreement now requires formal approval through a written consent procedure stipulated within the mentioned Terms and Conditions.
Voting Procedures for Bondholders
Only those Holders who are registered in the bond-holders registry maintained by Nasdaq CSD SE as of a specified date will have voting rights in this matter. In line with established procedures, a notice along with all necessary voting documents has been sent out by the Agent, Triniti Collateral Agent IX OÜ.
Majority Consent Required for Approval
For the consent to carry weight, at least 55% of the nominal amount of the Bonds must participate in the vote. Furthermore, a minimum of two-thirds of those participating must endorse the amendment for it to pass successfully. Notably, if the requisite majority consents to the new terms, the decision will apply to all Holders, regardless of whether they participated in the vote.
How Holders Can Vote
Bondholders wishing to vote need to submit the completed voting form to the Agent through mail, courier, or email by a designated deadline. Following this, the Agent will handle all necessary documentation and notify the Holders about the outcome once the voting period concludes. Comprehensive information regarding the decision will be made available on the Baltic Horizon Fund’s website and through stock exchange announcements.
Contact Information
For any queries related to the bond amendments, please reach out to Tarmo Karotam, the Baltic Horizon Fund manager. He can be contacted at tarmo.karotam@nh-cap.com.
Additional Insights into Baltic Horizon Fund
The Baltic Horizon Fund operates as a registered public closed-end real estate fund under the management of Northern Horizon Capital AS, which holds the relevant Alternative Investment Fund Manager license. This structure provides the Fund with an avenue to pursue its investment objectives within real estate markets efficiently.
Fund Updates and Investor Relations
Investors interested in staying updated about the Baltic Horizon Fund's projects, strategies, and more should visit the official website or register for news and announcements. Keeping in touch through online platforms such as LinkedIn, Facebook, Twitter, and YouTube can also provide additional engagement opportunities.
Frequently Asked Questions
What amendments is the Baltic Horizon Fund proposing?
The fund is proposing amendments to the terms regulating voluntary early redemption, aiming to enhance operational flexibility.
Who can vote on the proposed amendments?
Only Holders registered in the bond-holders registry by a specified date are allowed to participate in the voting process.
What is the required majority for approval?
A minimum of 55% participation with two-thirds in favor is necessary for the amendments to be approved.
How will Holders be informed about the vote outcome?
Holders will receive notifications regarding the voting results and subsequent decisions through the website and stock exchange releases.
Who is managing the Baltic Horizon Fund?
Northern Horizon Capital AS manages the Baltic Horizon Fund and holds the necessary licenses for such management.
