United Arab Emirates: SHUAA Capital psc (DFM: SHUAA) has announced that its board has approved the launch of a consent solicitation relating to amending terms and conditions for USD 150 million in outstanding bonds issued by a SHUAA affiliated special purpose vehicle and due on 31 March 2024. The proposal has garnered support from more than 25% of noteholders already.

The move forms part of the broader capital optimisation process previously announced by SHUAA Capital and represents the most effective way to significantly enhance the capital structure.

This crucial step is necessary to adjust the existing debt repayment profile. The proposal is extended to all noteholders, taking into account the Company’s present situation, with the aim of progressing towards capital injection that will restore business stability and continuity.

Subject to agreement from Bondholders to this consent solicitation, and obtaining required regulatory approvals, SHUAA Capital intends to convene a general assembly of shareholders to approve increasing its capital in order to achieve a sustainable capital structure for the Company. The Company’s objective with this consent solicitation is to right-size its balance sheet and facilitate the participation of new capital into the business. The proposal also offers the best available option to noteholders by offering cash settlement and the opportunity to participate in the equity of the Company.

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Press Contacts
SHUAA Capital psc
Hani El Abid
Head of Marketing and Communications
Tel: +971 4 3199 723
Email: helabid@shuaa.com
www.shuaa.com

Weber Shandwick
Khaled Osman
Director, Influencer & Media Relations
Email: kosman@webershandwick.com www.webershandwick.com

About SHUAA Capital psc

SHUAA Capital psc (DFM: SHUAA), established in 1979, is a leading asset management and investment banking platform. SHUAA Capital psc is recognized for its strong track record and pioneering approach to investing through a differentiated, innovative, and global product offering focused on public and private markets, debt, and real estate.

The asset management segment, one of the region’s largest, manages real estate funds and projects, investment portfolios and funds in the regional equities, fixed income, and credit markets; it also provides investment solutions to clients, with a focus on alternative investment strategies. The investment banking segment offers corporate finance advisory, transaction services, private placement, public offerings of equity and debt securities, while also creating market liquidity on OTC fixed-income products. The firm is regulated as a financial investment company by the Securities and Commodities Authority.

To learn more about SHUAA Capital, please visit:

  • Website: www.shuaa.com
  • Twitter: https://twitter.com/SHUAA_Capital
  • LinkedIn: https://www.linkedin.com/company/shuaa-capital

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