Debt Capital Markets · glossary
Valkenrade’s right to repay every Note early at par if a change in Dutch tax law makes it pay extra under the gross-up. The change must take effect after the Notes were priced on 8 September 2026. Valkenrade must also be unable to avoid the cost by reasonable steps. Condition 6.2 · Chapter 4 · see Gross-up
Explained in Chapter 4, Redemption: Maturity, Early Calls and the Change of Control Put, of Debt Capital Markets.
Condition 7 makes Valkenrade pay extra if Dutch tax is ever withheld from payments, so holders still receive the full amount (Chapter 3). The tax call is Valkenrade’s way out if a new Dutch tax law makes that promise costly…Read Chapter 4, Redemption: Maturity, Early Calls and the Change of Control Put →
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