As announced by Delete Group Oyj ("Delete") on 15 January 2021, the holders of its notes due 2024 (ISIN FI4000252119) (the "Notes") (the "Noteholders") approved certain amendments to the terms and conditions of the Notes. Under the amended terms and conditions, Delete committed to, inter alia, make a redemption of EUR 10,000,000 by funds obtained from receivables sold under a non-recourse factoring facility of the group (the "Factoring Arrangement"). Such redemption was to be made in two installments of EUR 5,000,000 once the sold receivables reached EUR 5,000,000 and EUR 10,000,000 thresholds or by 30 April 2021 and 31 May 2021, respectively, at the latest. The first EUR 5,000,000 payment financed by funds obtained from receivables sold under the Factoring Arrangement was paid on 12 February 2021.
Delete announces today that the second threshold of EUR 10,000,000 has been reached. The record date on the basis of which the payments will be made to the Noteholders is 13 May 2021 and the payments to the Noteholders will be carried out on 14 May 2021.
For more information:
Ville Mannola, CFO
phone: +358 400 357 767
DELETE GROUP IN BRIEF
Delete Group is one of the leading environmental service providers in the Nordics. After the Demolition Sale, the group offers business-critical client services, which require specialist competences and specialized equipment through two business areas: Industrial Cleaning Services and Recycling Services.
The Group is headquartered in Helsinki and employs approximately 700 professionals at over 35 locations in Finland and Sweden after the Demolition Sale.