Links to Prospectus OKEA05:
Supplement to the Registration Document dated 07.03.2024
Securities Note
Summary
OKEA05: ISIN NO 0013223503
| Issue amount | USD 125m |
| Interest | 9.125% |
| Issue date | May 2024 |
| Maturity | May 2028 |
| Call options | May 24 – May 26: Make whole May 26 – Nov 26: 104.56% Nov 26 – May 27: 103.42% May 27 – Nov 27: 102.28% Nov 27 – Mar 28: 100.50% |
| Permitted distribution | Up to 50% of net profit after tax (up to 100% if net cash positive) |
| Financial covenants | Min. liquidity: The higher of USD 25m and 15% of outstanding bond debt Leverage ratio (LR): Max 1.75 |
| Incurrence test | In relation to financial indebtedness: LR of max 1.50 In relation to distribution: LR of max 1.25 and liquidity of min. USD 50m |
OKEA06: ISIN NO 0013593855
| Issue amount | USD 175m |
| Interest | 9.125% |
| Issue date | June 2025 |
| Maturity | June 2029 |
| Call options | Jun 25 – Jun 27: Make whole Jun 27 – Dec 27: 104.563% Jan 28 – Jun 28: 103.422% Jul 28 – Dec 28: 102.281% Jan 29 – Mar 28: 100.500% |
| Permitted distribution | Up to 50% of net profit after tax excluding impairment charges for technical goodwill (up to 100% if net cash positive) |
| Financial covenants | Min. liquidity: The higher of USD 25m and 15% of the aggregate amount of the outstanding bounds and 15% of outstanding bond debt Leverage ratio (LR): Max 1.75 |
| Incurrence test | In relation to financial indebtedness: LR of max 1.50 In relation to distribution: LR of max 1.25 and liquidity of min. USD 50m |