Real estate investment company Fastator has today reached a preliminary agreement with a committee of major holders of the company's bonds, according to a press release.
The agreement includes, among other things, bridge financing of up to SEK 62.5 million and sets out the main terms for a broader recapitalization of the company. This recapitalization involves a restructuring of the company's capital and debt structure, whereby part of the existing bond loans will be replaced with newly issued preference shares.
Furthermore, the existing bond loans, including the bridge loan, will be replaced by a new bond loan. Accrued but unpaid capitalized interest on the existing bond loans will be offset against newly issued common shares in Fastator. This will be followed by a subsequent rights issue of common shares.
