Bondholder group sends acceleration notices to Essity
- Will Macadam
A group of bondholders has sent acceleration notices to Essity, the company confirmed in a statement last week, as the dispute rumbles on over whether a decision to sell a majority stake in the group’s Asia business counts as an event of default under its bond documentation.
The bondholder group, which is advised by Houlihan Lokey and White & Case, sent several acceleration notices to the Swedish hygiene products group over the course of last week, a source familiar with the matter confirmed. The group was last reported as representing around €270m across Essity bonds maturing in 2029, 2030, and 2031 back in March.