THE WHAT? Oriflame Funding Holding Plc has secured the required bondholder consent to amend the phrases of its senior secured debt, clearing a key step in its recapitalisation course of.
THE DETAILS The wonder firm acquired legitimate and unrevoked consents from holders representing 98.40% of its US$550 million 5.125% senior secured notes due 2026 and 96.21% of its €250 million floating price senior secured notes due 2026, exceeding the 90% threshold required for approval.
The consents relate to proposed amendments to the indenture governing the notes, initially issued in Could 2021 and subsequently amended, in addition to to the group’s intercreditor settlement. With the required consents obtained on December 16, 2025, the consent solicitation has expired and the consents can now not be revoked.
Settlement is predicted inside three enterprise days, topic to the satisfaction or waiver of customary situations. Upon settlement, the amended and restated indenture and intercreditor settlement will develop into efficient, formally implementing the revised phrases.
THE WHY? The profitable solicitation gives Oriflame with larger flexibility round its near-term debt maturities, strengthening its capital construction because it navigates ongoing monetary pressures and seeks to stabilise its stability sheet forward of the 2026 word maturities.
Supply: Oriflame
