Yesterday, a meeting was held with the holders of the bond Skipti 13 01, followed by a meeting with the company’s lenders. The bondholders approved Síminn’s proposal to increase the prepayment flexibility of the bond class, along with tightening financial covenants and adding a pledge restriction to the class. Additionally, the lenders approved changes to the security agreement, removing the obligation for regular updates and amending collateral documents, which gives the company the ability to change the composition of its loans in the future.
Arctica Finance acted as Síminn’s advisor on the project.
