Market announcement
Baltic Horizon Fund / Northern Horizon Capital AS
LEI code
5299008IKT93E4SA0G49
Size of the entity
Small undertaking
Economic activities
Financial and Insurance Activities
Industry sector(s)
Management company
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
8141
Attachments
Submission date and time
06.07.2020 16:20:00
Content of announcement in Estonian
Title
Baltic Horizon Fond taotleb võlakirjatingimuste ajutist muutmist
Message
Baltic Horizon Fond taotleb ajutist omakapitali suhtarvu puudutava
finantskinnituse alandamist seoses Baltic Horizon Fondi 50 miljoni euro
väärtuses emiteeritud 5-aastase tähtajaga tagamata võlakirjadega, mille
lunastustähtaeg on 2023. aastal (ISIN EE3300111467).
Seoses COVID-19 puhangu ja sellest tulenevate mõjudega Balti riikide
majandustele ja Baltic Horizon Fondi valitsetavate kinnisvaraobjektide üürnikele
on fond otsustanud taotleda võlakirjaomanikelt (Investorid) võlakirjade
üldtingimustes (Tingimused) sätestatud omakapitali suhtarvu kinnituse
(Tingimustes Equity Ratio) vähendamist 35%-lt 25% protsendini 12 kuu pikkuseks
perioodiks.
Baltic Horizon Fond kinnitab kõigile Investoritele, et pandeemia ei ole
mõjutanud fondi võimekust täita Tingimustes sätestatud rahalisi kohustusi.
Kirjalikus hääletusprotsessis osalemiseks on õigustatud Investorid, kelle nimel
on Nasdaq CSD SE poolt peetavas väärtpaberite registris registreeritud Baltic
Horizon Fondi võlakirju kirjaliku hääletusprotsessi algatamisele eelneva
tööpäeva, s.o 3.juuli 2020.a Nasdaq CSD SE tööpäeva lõpu seisuga. Kõigile
Investoritele saadab vastava teate võlakirjaomanikke esindav agent Intertrust
(Sweden) AB (Agent).
Investoritel palutakse vastu võtta alljärgnev otsus:
1. muuta Tingimuste punktis 11.3.1(a) sätestatud kohustust kuni
31.juulini 2021 ning sõnastada see järgmiselt:
a. Grupi Omakapitali suhtarv on kakskümmend viis (25) protsenti või kõrgem;
(Tingimustes inglise keeles: (a) the Equity Ratio of the Group is twenty
five (25) per cent. or greater;)
1. 1.augustil 2021 muutub punkti 11.3.1(a) sõnastus automaatselt ning
taastatakse selle algne sõnastus nagu sätestatud algsetes Tingimustes, s.o:
a. Grupi Omakapitali suhtarv on kolmkümmend viis (35) protsenti või kõrgem.
(Tingimustes inglise keeles: (a) the Equity Ratio of the Group is thirty
five (35) per cent. or greater.)
Hääletada saab, saates Agendile täidetud hääletusankeedi posti, kulleri või e-
postiga hiljemalt kell 12:00 (CEST) 29. juulil 2020. Agendi poolt saadetud teade
koos hääletusjuhiste, hääletusankeedi ja volikirja näidisega on lisatud
käesolevale börsiteatele.
Otsuse vastuvõtmiseks on vajalik, et hääletamises osaleksid Investorid, kellele
kuulub võlakirju vähemalt 50% ulatuses võlakirjade kogu nominaalväärtusest ning
otsuse poolt hääletavad Investorid, kellele kuulub kokku vähemalt 2/3 hääletuses
osalenud võlakirjadest. Kui vajalik häälteenamus on saavutatud, loetakse otsus
vastu võetuks, isegi kui hääletamiseks antud tähtaeg ei ole veel möödunud. Teave
vastuvõetud otsuse kohta saadetakse kõigile Investoritele, avaldatakse Baltic
Horizon Fondi ja Agendi kodulehekülgedel ning börsiteatena.
Juhul, kui Investorid taotletud otsuse heaks kiidavad, on see vastavalt
Tingimuste punktile 14.12 siduv kõigile Investoritele sõltumata sellest, kas nad
osalesid hääletuses või hääletasid otsuse vastu.
Lisainformatsiooni saamiseks palume kontakteeruda:
Tarmo Karotam
Baltic Horizon Fondi fondijuht
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=3SY5wmvEyDU5aWahpQedlhCOpj79Tz2KmkOw
Iq9f2K9AyY5GasYwZs5J-PhpW383zy1vkGyS0LCMfImuD5x5XbH95nAQQRv5vcrMFjn44jw=)
(https://www.globenewswire.com/Tracker?data=iLs9TYGnMlZhrZLOrGggC15sFczbbaWyVEaH
V1jTRboZiutXl4FgoJxr_9rvcdVATIrkBElEHX2-bN3IO5y6Zg==)www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=cZAKnbmA1vfQ_J7jZFpqnmg0RTrp86wqeC15
aHzFs3YTzfLlVgziHg7Yi3vUZHvdws33Adh6vKRgSA6WnOsbbl2WSZILQnHjpiPXNGdQHwY=)
Baltic Horizon Fond on registreeritud lepinguline avalik kinnine kinnisvarafond,
mida valitseb alternatiivfondivalitseja Northern Horizon Capital AS.
Avaldamine: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm,
www.baltichorizon.com
Content of announcement in English
Title
Baltic Horizon Fund requests for temporary amendment of the bond terms and conditions
Message
Baltic Horizon Fund applies for temporary reduction of equity covenant in
relation to Baltic Horizon Fund EUR 50 million 5-year unsecured bonds maturing
in 2023 (ISIN EE3300111467).
In the light of the COVID-19 outbreak and the associated effects on Baltic
economies and tenants of the properties operated by Baltic Horizon Fund the fund
has decided to request the holders of the bonds (the Holders) to lower the
equity ratio covenant in the terms and conditions of the Bonds (the Terms and
Conditions) from 35% to 25% for a period of 12 months.
Baltic Horizon Fund confirms to all Holders that its ability to fulfil the
monetary obligations provided in the Terms and Conditions has not been affected
by the pandemic.
Holders who were entered in the registry of bond-holders maintained by Nasdaq
CSD SE on the preceding business day before initiation of the written procedure,
i.e. at the end of business of Nasdaq CSD SE on 3 July 2020, are entitled to
vote in the written procedure. All holders of the bonds are sent a notice by
Intertrust (Sweden) AB acting as the agent for bondholders (the Agent).
The resolution the Holders are requested to adopt are the following:
1. to amend the undertaking set out in Clause 11.3.1(a) of the Terms and
Conditions for a period until 31 July 2021 in the following wording:
(a) the Equity Ratio of the Group is twenty five (25) per cent. or greater;
2. as of 1 August 2021 the wording of Clause 11.3.1(a) will automatically
be reinstated into its initial form and be considered as in the original Terms
and Conditions, i.e.:
(a) the Equity Ratio of the Group is thirty five (35) per cent. or greater.
Voting can be carried out by sending the filled-in voting form to the Agent by
mail, courier or e-mail no later than 12:00 (CEST) of 29 July 2020. The notice
sent by the Agent along with the voting instructions, the voting form and
template Power of Attorney are attached.
For the quorum to be reached and the resolution taken the Holders representing
at least 50% of the nominal amount of the bonds should vote and Holders
representing at least 2/3 of the nominal amount of the bonds participating in
the voting need to be in favour of the decision. Once a requisite majority of
consents of have been received by the Agent, the relevant decision shall be
deemed to be adopted, even if the time period for replies has not yet expired.
Information about the decision taken will be sent by notice to the Holders,
published on the websites of Baltic Horizon Fund and the Agent and published by
way of stock exchange release.
If the request is approved by the Holders it will be binding on all Holders
whether they participated in the voting or voted against the request or not, in
accordance with Clause 14.12 of the Terms and Conditions.
For additional information, please contact:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=3SY5wmvEyDU5aWahpQedlhCOpj79Tz2KmkOw
Iq9f2K9AyY5GasYwZs5J-PhpW383zy1vkGyS0LCMfImuD5x5XbH95nAQQRv5vcrMFjn44jw=)
(https://www.globenewswire.com/Tracker?data=iLs9TYGnMlZhrZLOrGggC15sFczbbaWyVEaH
V1jTRboZiutXl4FgoJxr_9rvcdVATIrkBElEHX2-bN3IO5y6Zg==)www.baltichorizon.com
(http://www.baltichorizon.com)
(https://www.globenewswire.com/Tracker?data=cZAKnbmA1vfQ_J7jZFpqnmg0RTrp86wqeC15
aHzFs3YTzfLlVgziHg7Yi3vUZHvdws33Adh6vKRgSA6WnOsbbl2WSZILQnHjpiPXNGdQHwY=)
Baltic Horizon Fund is a registered contractual public closed-end real estate
fund managed by Alternative Investment Fund Manager license holder Northern
Horizon Capital AS.
Distribution: Nasdaq Tallinn, Nasdaq Stockholm, GlobeNewswire,
www.baltichorizon.com