Bond Terms

Issuer: Goodvalley A/S

Security package: First ranking security over material assets and share pledges

Original Guarantors: Poldanor SA, Danosha LLC, Prime Food Sp. z.o.o., Finansax ApS

Status of the bond: Senior secured

Currency: EUR

Initial debt amount: EUR 135 million

Total framework: EUR 270 million

Other Facilities: Super senior RCF up to DKK 125 million, governed under an inter-creditor agreement with bond-holders. Basket of DKK 80 million for factoring

Tenor: 4 years

Pricing: 3m EURIBOR + 450bps p.a., quarterly interest payments, EURIBOR floor of 0.0% 

Rating: Unrated

Call options: Non call during the first 24 months, then 50/25/0 % of initial coupon AFTER 24/36/42, MONTH RESPECTIVELY.

Incurrence test: NIBD/EBITDA LTM fixed herd price (net leverage) of< 2.75x for any additional debt raised.

Restricted payments: Dividends or cash contributions to Restricted Subsidiaries are payable up to Net Leverage of < 2.75x

Information covenant: Annual audited statements, quarterly unaudited reports.

General undertakings: Inter alia restrictions on distributions, mergers, demergers, acquisitions, disposals, financial indebtedness, negative pledge, financial support, subsidiary distribution customary for a HY bond.

Change of control: Investor put at 101%

Equity claw: 35%

Listing of bonds: Nasdaq Copenhagen.

Trustee: Nordic Trustee.

Governing law: Danish law. 


Goodvalley uses cookies to ensure that we give you the best experience on our website. By continuing to use our site, we assume that you are happy to receive all cookies on the Goodvalley website. However, if you want, you can change your cookie settings at any time. Find out more.