Russian Real Estate Investment Co AB: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Russian Real Estate Investment Co AB Agrees Preliminary Term Sheet for Restructuring of Bond Loan; to Conduct Directed Share Issue and Divest Certain Holding Companies
Russian Real Estate Investment Co AB (Ruric) announced that the Company agreed a preliminary term sheet on the restructuring of the existing bond loan issued by Ruric (ISIN: SE0003045848) with a total nominal amount outstanding of SEK 619,750,000 (the current bond loan) divided into 6,197,500 bonds (the current bonds) with the Bondholders' Committee. According to the preliminary term sheet, Ruric, in consideration for the cancellation of the current bond loan, will (i) divest the shares of the holding companies of certain of its property portfolio to a newly created Swedish orphan company (i.e., a company set up by a third party entity, such as a trust/foundation) (PropCo), and (ii) issue new B shares in its share capital to PropCo of such number of new class B shares as will, following the new issue, represent 20% of the entire issued share capital of Ruric. PropCo will in turn issue bonds to the holders of the current bonds. It has been decided that RURIC Chetire AB, RURIC TRI AB, RURIC DVA AB and PD Finance AB and their respective subsidiaries OOO Ruric 2, OOO Ruric 3, OOO Ruric 4 and OOO Strelna Development will be sold to PropCo by way of a transfer of the entire share capital along with all claims any remaining Ruric Group Company may have against the transferred companies.
Latest Developments for Russian Real Estate Investment Co AB
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