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Electronics Production | October 21, 2009

How bad is Elcoteq really doing?

EMS-provider Elcoteq has agreed with its relevant creditors, to restructure its interest bearing debt in July 2009. This process, seen as an integral part of its balance sheet strengthening, will continue.
This planned restructuring will require, among other things, measures concerning Elcoteq's outstanding debentures. Elcoteq and its creditors amend the terms and conditions of the debentures for the needed actions to be carried out.

Pohjola Corporate Finance, as Elcoteq's financial advisor, will ask debenture holders to make an irrevocable commitment to sell the holder's debentures at a price of 25% of the nominal value plus the accrued interest. A potential investor would buy the debentures and possibly subsequently convert the debentures to shares in Elcoteq. Elcoteq, however, would retain the right to withdraw its proposal.
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December 13 2018 1:08 pm V11.10.14-1