Skip to main content

Jøtul AS’ bonds have been approved for listing on Oslo Børs

Jøtul AS (the “Company“) has issued senior secured floating rate bonds in an initial amount of NOK 475,000,000 within a total framework amount of NOK 750,000,000 (the “Bonds“). The Bonds carry a floating interest rate of NIBOR 3m + 6.95 per cent. per annum and mature on 6 October 2024.

Pursuant to the terms and conditions of the Bonds (the “Terms and Conditions“), the Company has undertaken to use its best efforts to ensure that the issued Bonds are listed on a regulated market within 12 months from the first issue date, being 6 October 2022 (the “Final Listing Date“). As previously communicated by the Company on 27 October 2022, due to unforeseen events the listing was delayed beyond 27 October 2022, being the final date of the remedy period as set forth in the Terms and Conditions, in turn triggering the occurrence of an event of default under the Terms and Conditions following the end of the remedy period. In connection with the expiration of the remedy period, the Company summoned for a written procedure, asking bondholders to temporarily waive the requirement of having the Bonds admitted to trading by the Final Listing Date.

The application for admission to trading of the Bonds on Oslo Børs’ corporate bond list has now been approved and the first day of trading will occur on 14 November 2022. Accordingly, the outstanding event of default communicated on 27 October 2022 will be remedied on the first day of trading on 14 November 2022.

Notwithstanding the remedy of the outstanding event of default, bondholders are still entitled to the waiver fee in the amount equal to 0.25 per cent. of the nominal amount for each Bond subject to the conditions set out in the notice to the written procedure delivered to all bondholders through the CSD and also available on the Company’s investor website (https://intl.jotul.com/bonds).

For further information, please contact:

Jøtul AS
Nils Agnar Brunborg,CEO
Tel: +47 906 05 578
E-mail: Nils.Brunborg@jotul.no

Information:
This information is information that Jøtul AS is obliged to make public pursuant to Section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 15:30 CET on 11 November 2022.

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.