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Greenvolt calls bondholder meeting to consider amending put option
By Marisa Wong
Los Angeles, April 23 – Greenvolt – Energias Renovaveis, SA issued a notice of meeting of the holders of its 2022-2027 green bonds (ISIN: PTGNVGOM0004), according to a notice.
At the meeting, holders will consider and, if deemed appropriate, pass an extraordinary resolution to amend the conditions of the bonds.
The proposed amendment relates to the put option under the bonds. Specifically, the issuer is seeking to update the terms and conditions to include among the early redemption events the following: the aggregate of the shareholders directly or indirectly held by one or more KKR entities (any entities through which KKR & Co. Inc and/or Kohlberg Kravis Roberts & Co. LP, directly or indirectly, controls the exercise of voting rights attached to shares representing the share capital of the issuer, thereby determining the direction in which such voting rights are exercised) ceasing to represent the majority of the issuer’s share capital or voting rights.
The bondholders’ meeting will be held at 6 a.m. ET on May 14. The quorum required is holders representing 50% of the principal amount outstanding.
If the meeting is adjourned, the adjourned meeting will be convened on May 31. The quorum for the adjourned meeting is any holder of the outstanding bonds, regardless of the principal amount represented.
At the initial meeting, holders of 50% of the outstanding principal amount must vote in favor of the resolution in order for it to pass.
If there is an adjourned meeting, the resolution will require a two-thirds majority to pass.
The information and tabulation agent is Issuer Solutions, SL (agobrigacionistas@greenvolt.com; www.issuersolutions.com/meeting/greenvolt).
Greenvolt is a renewable energy company based in Lisbon.
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