SIBS AB (publ) (the “Company” and together with its subsidiaries, the “Group“) hereby informs that it has reached an agreement with bondholders representing approximately [69] per cent. of the outstanding amount under the Company’s outstanding SEK 1,000,000,000 senior unsecured bonds with ISIN SE0023112487 (the “Bonds” and the “Terms and Conditions“), The agreement with the relevant bondholder will allow the Group to, in order to improve its liquidity, incur various financings through SIBS SDN BHD (“SIBS Malaysia“) in an aggregate amount of MYR 277,000,000 with a shorter tenure than currently required under the Terms and Conditions and which, in respect of the financing incurred under SIBS Malaysia’s commercial paper program, exceeds the threshold set out in the Terms and Conditions. Further, the relevant bondholders have agreed to vote in favour of subsequent waivers needed due to the incurrence of the debt approved by the bondholders in a subsequent written procedure in exchange for a consent fee, payable to all bondholders upon approval of the waivers, of 0.50 per cent. of the outstanding amount under the Bonds. The written procedure will be announced separately in due course.
The Company have also engaged in discussions with its shareholders to further improve its liquidity and certain shareholders have agreed to provide a conditional convertible loan of SEK 150,000,000 which will be subordinated to the Bonds (the “New Equity“).
For more information, please contact:
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Erik Thomaeus CEO, SIBS AB and SIBS Modular AB et@sibs.se +46 70-755 78 98 |
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This information is the kind of inside information that SIBS AB (publ) is obliged to make public in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the contact people above, at 7.30 am CEST on 27 February 2025. |
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SIBS AB was founded in 2016 and is today one of the world’s leading modular building manufacturers. With a scalable capacity of up to around 6 000 homes per year, we deliver sustainable, high-quality homes adapted to local conditions. SIBS has the entire integrated value chain for industrial construction within the group – from design and configuration in its own building system, industrial production in its own factories and onsite assembly/finalization. With the help of digitalization and technology, we set a new standard in the construction industry. SIBS bond is listed on Nasdaq Stockholm. Read more at www.sibs.se.
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