SSM publ : obtains the bondholders' approval of amendment to the terms of the company's outstanding bonds

At the request of SSM Holding AB (publ) ("SSM"), the agent summoned to a meeting with the company's bondholders by way of a procedure in writing to resolve on amending the terms and conditions of SSM's outstanding bonds. The procedure has now expired and SSM has obtained the bondholders' approval of amending the terms and conditions.

Reference is made to the press release dated 4 February 2020 regarding a summon to SSM's procedure in writing (the "Written Procedure") in order to resolve on amending the terms and conditions of SSM's outstanding bonds (the "Terms and Conditions") of maximum MSEK 700.0 (of which MSEK 400.0 is outstanding and MSEK 31.0 is held by SSM) that mature in May 2020 (ISIN SE0008040893) (the "Bonds").

The Written Procedure expired on 21 February 2020. A sufficient number of bondholders participated in the Written Procedure in order to meet a quorum and a requisite majority of the bondholders voted in favor to approve the Request (as defined in the notice of Written Procedure). The Request in the Written Procedure has thus been approved.

As a result, the Terms and Conditions has been amended to among other things include i) an extension of the maturity date of the Bonds to 2022 with an unchanged interest rate, ii) repaying not less than MSEK 100.0 no later than May 2020, iii) repaying not less than MSEK 75.0 at an agreed premium semi-annually from November 2020, iv) restrictions on payments of dividends or transfers of value to the company's shareholders until the Bonds have been repaid in full, v) obligation for SSM to provide certain collateral to the Bondholders, vi) obligation to have sufficient funds available for each repayment of the Bonds, vii) not cancelling any Bonds held by SSM and viii) amending the conditions for starting new housing projects. The amendments to the Terms and Conditions are conditional upon, among other things, a capital contribution of MSEK 100.0.

For questions regarding the administration of the Written Procedure, please contact the agent at [e-mail] or [phone].

For more information, please contact:
Ann-Charlotte Johansson
EVP Communications & IR
Email: [e-mail]
Phone: [phone]

About SSM Holding AB (publ) 
SSM produces smart and affordable housing with attractive communal areas, close to public transport in close proximity to the company's target group - tomorrow's urbanites. The company's vision is a housing market with room for as many people as possible. SSM is a leading housing developer in its niche within the Stockholm area, and in December 2019, approximately 4,500 building rights are included in the company's project portfolio. SSM was listed on Nasdaq Stockholm's main list on April 6, 2017. www.ssmlivinggroup.com

https://news.cision.com/ssm/r/ssm-obtains-the-bondholders--approval-of-amendment-to-the-terms-of-the-company-s-outstanding-bonds,c3042122

https://mb.cision.com/Main/11507/3042122/1198687.pdf

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