R-LOGITECH: Information in connection with the capitalization of the interest due on 29 March 2023 on the 2018/2023 bond (ISIN: DE000A19WVN8)

R-LOGITECH: Information in connection with the capitalization of the interest due on 29 March 2023 on the 2018/2023 bond (ISIN: DE000A19WVN8)

Monaco, 6 April 2023 – As previously reported, the noteholders of R-LOGITECH S.A.M.’s 2018/2023 bond (ISIN: DE000A19WVN8) resolved at the 2nd noteholders’ meeting on 29 March 2023 in Frankfurt am Main with the required qualified majority of votes cast, among other things, to increase the coupon of the bond by 1.75 percentage points to 10.25% p.a. as of 29 March 2023, and granted the issuer the right to capitalize rather than pay interest due in cash.

With regard to the interest due on 29 March 2023 at the rate of 8.5% p.a. for the interest period from 29 March 2022 to 28 March 2023 (both inclusive), the issuer has exercised this right and on 31 March 2023 issued a corresponding declaration to the joint representative of the noteholders that it will capitalize the interest.

This means that the amount of interest due will not be paid out but will be added to the nominal amount of the bonds, so that the nominal amount of the bonds and therefore the redemption amount will increase to EUR 1,085 per bond from 29 March 2023. This amount will bear interest at a rate of 10.25% p.a. from 29 March 2023, resulting in a compound interest effect in favor of the noteholders. The issuer is entitled to also capitalize the next coupon due on 29 March 2024, which would also trigger compound interest by further increasing the nominal amount. The capitalized interest is paid out in the form of the increased nominal amount at maturity.

The issuer assumes that accrued interest will continue to be charged in the event of purchases or sales via the stock exchange after 29 March 2023. However, it cannot be ruled out that until the technical implementation of the resolutions of the noteholders’ meeting of 29 March 2023 (presumably until the end of April 2023), accrued interest of 8.5% p.a. instead of 10.25% p.a. will be charged or that the capitalization of the interest as of 29 March 2023 may not yet have been taken into account. Investors should note this and contact their custodian bank in this regard. The company points out that neither it nor the paying agent has any influence on the accrued interest calculation carried out by the stock exchanges.

About R-LOGITECH S.A.M.:
R-LOGITECH is one of the leading international ports infrastructure operators and logistics services providers in the natural resources sector. The group’s primary business lines are port and terminal management and specialist logistics.

For further information:
Brunswick
Patrick Handley, Tom Pigott
+44 (0) 20 7404 5959

Better Orange IR & HV AG
Frank Ostermair, Linh Chung
+49 (0) 89 8896906 25
linh.chung@better-orange.de