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R-LOGITECH to Extend Bond Maturity and Continue Sales Process for Stake in Thaumas N.V.
R-LOGITECH S.A.M. has announced plans to call noteholder meetings to extend the maturity of its existing bonds. The company aims to prolong the term of its EUR 254 million 10.250% notes due June 2024 and amend the terms of its EUR 50 million notes due 2027. The bonds will be redeemed from the net proceeds of the sale of Thaumas N.V. shares and will no longer bear interest.
An M&A process, led by Lazard, has been initiated to sell the company's stake in Thaumas. Additionally, to cover transaction and restructuring costs, R-LOGITECH plans to issue a new bond worth EUR 15 million, which will take precedence over existing notes in repayment priority.
R-LOGITECH is also finalizing negotiations to refinance or redeem a EUR 125 million mezzanine facility maturing in June 2024. The mezzanine facility is secured by shares in R-Logitech S.A. and 53% of Thaumas N.V. shares.
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