TapTravel launches bondholder votes tied to share issue of at least SEK 50 million
TapTravel has started written procedures on its senior and super senior bonds, linked to a planned share issue of SEK 50 to 87 million.
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what happened
TapTravel Nordic AB said it has instructed Nordic Trustee & Agency AB to start separate written procedures for two bond series: senior secured bonds with ISIN NO0013326041 and super senior secured bonds with ISIN NO0013699975. Bondholders are asked to approve amended terms and waivers tied to a new share issue of roughly SEK 50 to 87 million, depending on shareholder participation.
The company says it faces liquidity problems: interest on the super senior bonds has not been paid since mid-2026, and October 2026 interest on the senior bonds is also unpaid. Ridge Capital, the second-largest shareholder and a holder of both series, has granted unsecured loans of SEK 28 million and may lend up to SEK 70 million more. TapTravel warns it may be unable to meet its obligations and may have to file for bankruptcy if the situation is not resolved.
The proposed changes include extending maturities, lowering the minimum cash requirement to SEK 5 million and deferring some interest payments. The voting deadline is 9 November 2026.
why it matters
For the market, this signals high debt risk at a small issuer: a share issue backed by a major bondholder and softer terms look like an effort to avoid default. The outcome matters mainly for TapTravel bondholders and for assessing its credit quality.
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sources
- TAPTRAVEL INITIATES WRITTEN PROCEDURES UNDER ITS BONDS IN CONNECTION WITH A PROPOSED NEW SHARE ISSUE OF AT LEAST SEK 50 MILLION — TradingView, 23 October 2026 at 15:53 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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