Debt Notice Neutral
BRAIT INVESTMENT HOLDINGS LIMITED - Notice of the Results of the Request for Written Consent from the Bondholders
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What this filing means
Bondholders of Brait Investment Holdings' R2.12bn exchangeable bond have approved the amendment and restatement of the bond terms and conditions, with 70.8% of outstanding principal voting and 100% in favour — clearing the required 66.67% threshold. This is the announcement of a completed consent solicitation, not a new transaction or a revision to BIH's financial position.
Bear case
- The resolutions passed at 70.8% with 100% in favour — exactly as needed, with no surprises either way. This is the expected outcome of a consent solicitation process the market knew was underway.
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