Steinhausen, 27. October 2020, Selecta is pleased to announce that, following the successful vote of the Scheme Creditors on 21 October 2020, the scheme of arrangement proposed by Selecta Finance UK Limited (the “Scheme”) was successfully sanctioned by the High Court of Justice of England and Wales earlier today. Following the successful sanction of the Scheme, Selecta will now move to complete its recapitalisation transaction.
As a result of the sanction of the Scheme, certain ratings agencies may temporarily place Selecta’s existing notes on selective or limited ratings default. Selecta would like to reassure all its stakeholders that this is a purely technical matter to reflect the nature of the recapitalisation transaction and new ratings will be issued upon the completion of the recapitalisation transaction in the coming days.