Qben Infra to Launch Up to SEK72 Million Dual-tranche Convertible Loan Issue
Qben Infra (QBEN.ST) will issue senior secured convertible loans of up to 71.8 million kronor to meet its capital requirements and support continued operations and development.The convertible loans comprise a first and second tranche of up to 59.7 million kronor and 12.1 million kronor, respectively, according to a Wednesday release. Each tranche carries a fixed annual interest rate of 10% and matures in 24 months.The Swedish infrastructure services group said the lenders can partially or fully convert the outstanding amount of the related tranche into new shares at a conversion price of 7.79 kronor per share.An extraordinary general meeting will be held by Nov. 20 for approval of the second tranche, with the company's top shareholder, Songa Investments, expected to vote in favor of the resolution.
