Ellos Group announces today that the written procedures initiated on 18 November 2024 has been successfully completed.
A sufficient majority of the bondholders have approved the proposals made in the written procedures in relation to Fulgora Holding AB outstanding SEK 1,500,000,000 senior secured callable floating rate bonds (the “Senior Bonds”) , the SEK 250,000,000 super senior secured fixed rate bonds (the “Super Senior Bonds”), and super senior secured callable fixed rate bonds (the “Liquidity Bonds”, and together referred to as the “Bonds” and the holders of such Bonds, the “Bondholders”) and the intercreditor agreement as amended and restated on 11 October 2024, (the “Written Procedures”).
As informed through the press release on 18 November 2024, the purpose of said procedures was to, inter alia, finalize the terms for a completion of the recapitalisation of the Ellos group, including to make certain amendments to the terms and conditions for the Bonds and reduce the Group’s debt through partial equitization of the Senior Bonds. A sufficient share of Bondholders participated in the Written Procedures to form a quorum, and a sufficient majority of the Bondholders voted in favour of the Request as defined therein on 27 November 2024.
Following the approvals, the Ellos Group is also pleased to confirm that the recapitalization process has concluded today, 28 November 2024.
For more information regarding the Written Procedures, please see the Notice of Result of the Written Procedures on the Issuer’s website.
For more information, please contact:
Morten Astrup, Chairperson Fulgora Holding AB
Hans Ohlsson, CEO Ellos Group
Tel. +46 (0)33 16 08 05
For any questions relating to the AHG or bondholders, please contact the AHG’s legal counsel Advokatfirmaet BAHR AS (Magnus Tønseth – [email protected] and Stian Winther – [email protected]).
ABOUT ELLOS GROUP
The Ellos Group, which includes the e-stores Ellos, Jotex, Homeroom and payment brand Elpy, is a leading ecommerce group in the Nordic region. Working closely with our millions of customers, we are constantly striving to develop and offer attractive and sustainable fashion and household items for the entire family. Our focus is always on the customer. We continuously work to develop our business through innovation, creativity, and sustainability. The Ellos Group, headquartered in Borås, and with operations in all Nordic countries and selected European markets, has around 550 employees and sales of around SEK 3.4 billion.