Lamor - Environmental Solutions Products and Services

@Thomas_Westerholm Have you seen Lamor’s amended bond terms, which can be found here: https://stamdata.com/news/api/pdf/9f031b97-1567-4c01-bd9e-2f8e8d0d45e5

There are many interesting points in the terms, for example, section 12.16 prohibits additional investments in Kilpilahti, excluding the installation of the distillation column and the wax generator. The parent company or its subsidiaries cannot make additional investments until the bond is paid off. “The Issuer shall not, and shall procure that no Group Company (other than Lamor Recycling Oy) will, fund or commit any capital expenditure to Lamor Recycling Oy in respect of the Kilpilahti plastic recycling facility project phase 2 (including production lines 2-4 and their auxiliary equipment but excluding, for the sake of clarity, installation of the distillation process and related wax generator) whether by way of cash generated from operations, intra-group loans or otherwise.”

8 Likes