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Notice for Second Written Procedure for senior secured bonds issued by Blåfjell AS

24 February 2020

To the holders of senior secured fixed rate bonds due 9 November 2020 with ISIN NO 001 080980.9 (the “Bonds”) issued by Blåfjell AS (the “Issuer”) on 9 November 2017.

Capitalized terms not otherwise defined herein shall have the meaning giving to them in the terms and conditions relating to the Bonds dated 9 November 2019 (the Terms and Conditions).

Intertrust (Norway) AS is acting as Trustee on behalf of the Bondholders under the Terms and Conditions.

 Pursuant to the outcome of the written procedure, communicated to the bondholders in the Notice of outcome, the Trustee, acting in its capacity as trustee for the Bondholders under the Terms and Conditions, hereby initiates a second written procedure (the “Second Written Procedure”) in accordance with cl. 19.11 and 21.1 under the Terms and Conditions.

Under the Second Written Procedure, the Bondholders are asked to vote in order to accept or reject a proposal from the Issuer (the “Proposal”), to waive the interest payment which was due 9 February 2020. 

The Proposal is described in detail in section A in the full notice which can be downloaded as per below.

Notice of Second Written Procedure

 

Pursuant to cl. 19.11 of the Terms and Conditions, the quorum requirements in cl. 19.10 shall not apply to the Second Written Procedure, which means that the votes received in this Second Written Procedure will be decisive regardless of how many votes that will be received. 

Pursuant to cl. 19.8 of the Terms and Conditions, at least sixty six and two thirds (66 2/3) per cent of the Adjusted Nominal Amount for which Bondholders reply in a Written Procedure must consent to the Proposal in order for it to be approved.

 

The Trustee must have received the voted no later that by 12.00 (CET) on 2 April 2020.

 

For further questions please contact:

Eleonore Foss

[email protected]

+47 95 81 45 13

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