The majority owner of Polygon group, Triton Fund III, has signed an agreement to sell its investment.
The majority owner of Polygon group, Triton Fund III, has signed an agreement to sell its investment in the company.
The completion of the Transaction will trigger a change of control under the terms and conditions of the Swedish law governed EUR250,000,000 senior secured fixed rate notes issued by Polygon AB, entitling the note holders to – following completion of the Transaction – request that all or some of the notes are repurchased at price per note of 101 per cent. of the nominal amount together with accrued but unpaid interest.
As agreed between Triton Fund III and the purchaser of the Polygon group, it is the Company’s intention to exercise a total voluntary redemption of the notes, in accordance with the terms and conditions of the notes, in connection with completion of the transaction, entitling the note holders to 101 per cent. of the nominal amount together with accrued but unpaid interest.
The completion of the transaction is subject to approval from the relevant authorities and is expected to be completed during Q4 2021.
Jefferies acted as sell-side adviser to Triton Partners on the transaction.
