Func Food Group Oyj – Non-payment of bond on redemption date

2019-06-24


Func Food Group Oyj (the "Company") has issued senior secured callable bonds in the nominal amount of up to EUR 50,000,000 with ISIN SE0007186150 under the terms and conditions originally dated 25 June 2015 (as amended from time to time) (the "Terms and Conditions").

Pursuant to the Terms and Conditions, the redemption date of the Company’s bond is on 26 June 2019, and the Company is also obliged pay all interests and waiver fees accrued on the bonds for the preceding interest periods. The Company has been in an event of default since not paying the bond interest on 26 March 2019. No payments will be made on redemption date. The Company will continue business operations otherwise as before. The Company also continues to negotiate with bondholder committee on the possible amendments on the Terms and Conditions and the Company’s owners are engaged in discussions pertaining to the future ownership structure of the Company. However, the outcome of such negotiations is still uncertain. If negotiations are not successful, then the Company will not be able to pay its bond.

For further information, please contact:

Robin Lybeck, CEO, Func Food Group Oyj
Telephone: +358 40 735 2464
Email: robin.lybeck@funcfood.com

Jani Partanen, CFO, Func Food Group Oyj
Telephone: +358 40 518 3076
Email: jani.partanen@funcfood.com

This information is information that Func Food Group Oyj is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 19:00 CET on 24 June 2019.


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