EQT Mid-Market Credit SV S.A., reg. no. B 193.498, (the "Issuer") today announces the results of the written procedure initiated on 27 July 2020 (the "Written Procedure") for its outstanding Class A4 EUR Notes (ISIN SE0007045802) and Class B4 EUR Notes (ISIN SE0007185582) (together, the "Notes"), in accordance with the terms and conditions of the Notes (the "Terms and Conditions").
As a consequence of the outcome of the Written Procedure, the Issuer intends to make certain amendments to the Terms and Conditions and the other Transaction Documents (as defined in the Terms and Conditions).
On 14 June 2020, EQT AB and certain affiliates of EQT AB ("EQT") entered into a definitive sale and purchase agreement with Bridgepoint Advisers Holdings (together with its affiliates, "Bridgepoint") whereby Bridgepoint agreed to acquire EQT's credit business, including (i) the shares in the Issuer held by EQT and (ii) the investment advisory mandate in respect of the underlying fund in which the Issuer invests, such fund being EQT Senior Debt FCP-SIF - EQT Mid-Market Credit Fund (the "Sub-Fund"), a sub-fund of EQT Senior Debt FCP-SIF (the "Fund") (the "Transaction").
In order to effectuate the Transaction, the Issuer, as sole unitholder of the Sub-Fund, was asked to consent to certain amendments to the Transaction Documents (including the issuing document and management regulations of the Sub-Fund) and pursuant to the Written Procedure, the Issuer asked the holders of the Notes (the "Noteholders") to vote for or against an instruction to the Issuer to consent to such amendments (the "Instruction").
Result of the Written Procedure
The Issuer has today given notice to the Noteholders that Noteholders holding more than fifty (50) per cent of the issued and outstanding Notes have consented to the Instruction, meaning that the Issuer has exercised its voting rights as a unitholder in the Sub-Fund and has consented to the proposed amendments to the Transaction Documents.
The final form of the amended Transaction Documents will become effective upon completion of the Transaction ("Completion"), which is anticipated to occur on or around 23 October 2020.
Amendments to the Terms and Conditions and the other Transaction Documents
The Issuer has today given notice to the Noteholders that the Terms and Conditions and the Transaction Documents will be amended to reflect the following (as well as certain other editorial and consequential amendments), with effect from Completion:
· The name of the Issuer will be changed to "Bridgepoint Direct Lending I SV S.A.", the name of the Fund will be changed to "Bridgepoint Credit FCP-SIF" and the name of the Sub-Fund will be changed to "Bridgepoint Credit FCP-SIF - Bridgepoint Direct Lending I".
· The registered address of the Issuer will become 2, avenue Charles de Gaulle, L-1653 Luxembourg.
· Crestbridge Management Company S.A. (société anonyme), a third-party management company, will be appointed as management company and alternative investment fund manager of the Fund (including the Sub-Fund).
· The current corporate services agreement between the Issuer and Citco Fund Services (Luxembourg) S.A. ("Citco") will be replaced by a new agreement in respect of corporate services with Citco.
· Arctic Securities AS, filial Sverige has replaced Nordic Fixed Income as Issuer Agent (as defined in the Terms and Conditions).
The amendments to the Terms and Conditions will become effective on Completion. The Issuer will make a further press release once Completion has occurred.
The notice of Written Procedure and the proposed form of the amended Terms and Conditions are available on the website of the Issuer (https://www.eqtgroup.com/eqtmmcsv).
EQT Mid-Market Credit SV S.A.
EQT Press Office
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More information: www.eqtgroup.com
Follow EQT on Twitter (https://twitter.com/eqt) and LinkedIn (http://www.linkedin.com/company/508278)
About the Issuer
EQT Mid-Market Credit SV S.A. is a Luxembourg incorporated securitization vehicle and has issued and listed Class A4 Notes and Class B4 Notes pursuant to a prospectus dated 17 June 2015, as supplemented on 5 April 2016 on the Nordic Growth Market (NGM) in Stockholm, Sweden.
More information: https://www.eqtgroup.com/eqtmmcsv
The information was made public through the agency of the contact set out above, on 21 October 2020 at 16:45 CET.
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