FilingReader Intelligence

Agilyx to issue convertible bonds to refinance shareholder loan

October 22, 2025 at 06:59 AM UTCBy FilingReader AI

Agilyx ASA announced its intention to issue minimum €20 million subordinated convertible bonds, with a maximum offering of €40 million, to replace an existing €20 million subordinated shareholder loan. Lenders of the current loan have committed to converting their holdings into these new bonds, which are expected to mature on June 30, 2028. Any proceeds exceeding the initial €20 million will bolster the company's liquidity and be allocated for general corporate purposes.

The application period for the convertible bonds runs from October 22 to October 24, 2025. An extraordinary general meeting is scheduled for November 18, 2025, to approve the conversion of these bonds into Agilyx shares, with the three largest shareholders, representing 53.99% of votes, committed to supporting the resolution. Key terms include a fixed coupon rate between 8% and 10%, payable semi-annually with additional bonds, a 20% conversion premium over the reference share price, and a reset mechanism to adjust conversion conditions if a capital raise occurs within the first 18 months.

This financing initiative follows Agilyx's €52 million investment for a 44% stake in GreenDot Global, Europe's largest waste plastic recycling platform. This strategic move aims to solidify Agilyx's position in advanced recycling feedstock supply.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

OSL:AGLXOslo Stock Exchange

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