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
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%
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.
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