Polygon AB (publ) announces the launch of its subsequent notes issue

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

Polygon AB (publ) reg. no. 556816-5855 (the "Company") announced on 6 November 2019 that it is soliciting consent from the Noteholders to obtain a waiver under the terms and conditions of the Notes dated 20 February 2018 (the "Terms and Conditions") (the "Consent Solicitation") in order to enable the Company to incur additional financial indebtedness (on a gross basis) (the "Proposal") and that it had mandated Nordea Bank Abp as sole arranger and bookrunner for a contemplated issue of up to EUR 40,000,000 subsequent notes issue under the Terms and Conditions (the "Subsequent Notes").

The Company further announced on 12 November 2019 that, if it was to proceed with the contemplated issue of Subsequent Notes that is expected to take place following the approval of the Proposal in the Consent Solicitation (subject to market conditions), it intends to price such Subsequent Notes at a maximum issue price of 101.500 per cent. of its nominal amount.

As announced by the Company on 15 November 2019, Noteholders representing existing Notes with a nominal amount of EUR 187,600,000, corresponding to 89.33 percent of all outstanding existing Notes, had notified the Company by the Early Bird Consent Fee Deadline, which expired on 15 November 2019 at 12:00 pm CET, that they will vote in favour of the Proposal.

The Company hereby announces that given the support received from Noteholders voting in favour of the Proposal by the Early Bird Consent Fee Deadline, the Company will as of today launch the issue of the Subsequent Notes.

The issue of Subsequent Notes is ultimately subject to the approval of the Proposal in the Consent Solicitation and market conditions.

All terms used herein and not defined shall have the meaning given to them in the Consent Solicitation Memorandum dated 6 November 2019.

For further information, please contact:
Martin Hamner, Chief Financial Officer
+46 (0)70 607 85 79
martin.hamner@polygongroup.com

The information was submitted for publication, through the agency of the contact person set out above, at 9.00 CET on 18 November 2019.