Chapter 15 Update
Steinhausen, 09. October 2020, Further to the announcement of Selecta Group B.V. dated 2 October 2020, the Company is pleased to confirm that the first step in recognition of its English scheme of arrangement in the US has now been completed – the Chapter 15 filing was made on 8 October 2020 and the first day hearing is scheduled to be heard on 9 October 2020.
The Chapter 15 filing marks another phase in the implementation of the Group’s recapitalisation transaction.
As indicated previously, the English scheme of arrangement and the US Chapter 15 case relate solely to the Group’s (i) €865,000,000 5 7⁄8% Senior Secured Notes due 2024 (ISIN XS1756356371 and XS1756356611), (ii) €375,000,000 Senior Secured Floating Rate Notes due 2024 (ISIN XS1756359045 and XS1756359391) and (iii) CHF 250,000,000 5 7⁄8% Senior Secured Notes due 2024 (ISIN XS1756227309 and XS1756298078).