R-LOGITECH Reaches Agreement with Noteholders for Transactional Framework

Monaco, 15 June 2024 – R-LOGITECH S.A.M. has announced an agreement in principle with an ad hoc group (AHG) of its noteholders, covering EUR 254,324,000 in 2024 Notes and up to EUR 50 million in 2027 Notes. This agreement involves revising terms to include increased new money financing and specific asset sale regimes.

The new financing will include up to EUR 20 million provided initially as a secured loan ranking senior to the notes. All noteholders will have the opportunity to participate in new financing under similar terms post-resolution.

Asset sale proceeds will be distributed based on a detailed waterfall structure, providing 48% to noteholders, 47% to new money providers, and 5% to the backstop noteholders on proceeds up to EUR 80 million. Different percentages apply for higher proceeds tiers.

R-LOGITECH aims to secure support for this restructuring, recommending noteholders vote in favor of these revised terms during the upcoming meeting from 22 to 24 June 2024.