Reka Industrial Plc has notified of the early redemption of secured ”Green bond” notes due 2024
26.4.2023 19:00:00 EEST | Reka Industrial Plc | Other information disclosed according to the rules of the Exchange
Reka Industrial Plc has notified on the early redemption of secured ”Green bond” notes due 2024
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG, SOUTH AFRICA, SINGAPORE OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
Reka Industrial Plc (the ”Company”) has notified that it has exercised its right to redeem in full its outstanding 6.00 per cent. EUR 10,000,000 secured notes (”Green Bond”) issued 2019 and due 2024. The proceeds from the Green Bond has been used in accordance with the Green Bond Framework to eligible assets that are compatible with the product offering of Reka Cables Ltd and to the development of Reka Cables Ltd’s production and production facilities to improve its efficiency and sustainability. Part of the proceeds have been used for refinancing purposes. A separate investor letter was published in March 2023.
In connection with the sale of Reka Cables Ltd. the Company has substituted and released the security of the Green Bond given by Reka Cables Ltd. to an account pledge given by the Company. Additionally, the Company has notified of the early redemption of the Green Bond in accordance with the terms and conditions of the Green Bond in May 2023. On the redemption date, the Company shall pay the redemption price equal to 101.25 per cent. of outstanding nominal amount of the notes together with any accrued but unpaid interest in accordance with the terms and conditions of the Green Bond.
The Company shall use existing liquidity reserves to finance the redemption.
Hyvinkää, 26 April 2023
Reka Industrial Plc
The Board of Directors
Additional information:
Markku E. Rentto, Chairman of the Board of Directors, tel. +358 40 500 1858
Disclosure regulation
All comments in this report that do not refer to actual facts are future estimates. Such estimates include expectations concerning market trends, growth and profitability as well as statements including the words "believe", "assume" or "will be" or a similar expression. Since these estimates are based on current plans and estimates, they involve risks and uncertainty factors that may cause the actual results to differ substantially from current statements.
Among other things, such factors include 1) operating conditions, such as continued success in production and the ensuing efficiency benefits, availability and cost of production inputs, demand for new products and changes in circumstances affecting the acquisition of capital under acceptable conditions; 2) sector-specific circumstances, such as the intensity of demand for products, the competition, current and future market prices for the Group’s products and related pricing pressures, the financial situation of the Group’s customers and competitors and competitors’ possible new products; and 3) the general economic situation, such as economic growth in the Group’s main market areas and change in exchange rates and interest rates.
Figures in brackets refer to the same period a year earlier, unless otherwise stated.
Contacts
- Markku E. Rentto, Chairman of the Board, +358 40 500 1858, markku.e.rentto@reka.eu
About Reka Industrial Oyj
Reka Industrial is involved in the transition of both the energy and transport industries. As an industrial family company, we are committed to developing the performance and sustainability of the companies we own. The market is growing and we along with it. Reka Industrial class B shares are listed on the Nasdaq Helsinki Ltd.