Larvik (Norway), January 14, 2025 | ABAX Group AS (“ABAX” or the “Company”) hereby announces that its NOK 1,000,000,000 senior secured floating rate bonds with ISIN NO0010885312 (the "Bonds") will be redeemed in advance in accordance with Clause 9.3 (Voluntary total redemption (call option)) of the terms and conditions of the Bonds.
The redemption date will be 5 February 2025. The redemption amount for each Bond shall be 100 per cent. of the nominal amount, plus accrued but unpaid interest up to, but excluding, the applicable redemption date. The redemption amount will be paid to the bondholders holding Bonds on the applicable record date (being 3 February 2025).
The Company's obligation to redeem the Bonds on the redemption date is conditional upon the successful issue prior to the applicable record date of senior secured floating rate bond issue in an initial amount of up to SEK 900,000,000 (the "New Bonds") and the Company fulfilling the conditions precedent for disbursement of the net proceeds from the issue of the New Bonds.
Subject to the above, the Bonds will be de-listed from the corporate bond list of Oslo Børs in connection with the redemption date.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation ("MAR") and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 of the Norwegian Securities Trading Act. This information was published by John Ole Moe, CFO of ABAX at 18.00 CET on the 14th of January 2025.
For further information, please contact:
Emma Dyga, CEO, ABAX
Email: emma.dyga@abax.com
Phone: +46 73 439 06 52
John Ole Moe, CFO, ABAX
Email: john.moe@abax.com
Mobile: +47 95 26 87 01
About ABAX
ABAX is a leading European telematics IoT platform offering connected mobility solutions for vehicle tracking, tool tracking, and equipment control. Our mission is to provide mobility data insights that help customers optimize field operations, comply with regulations, and achieve significant savings. With over 500,000 tracked assets and 40,000 customers, ABAX delivers reliable and powerful solutions for businesses relying on field workforces, logistics, and heavy equipment. Our advanced platform transforms customer needs into actionable insights and automated reporting, driving efficiency and operational excellence.