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Notice of outcome in the written procedure for bonds issued by Blåfjell AS

10 July 2020

To the bondholders in senior secured bonds with ISIN NO 001 080980.9 (NOK Bonds) (the “Bonds”) issued by Blåfjell AS (the “Issuer”) on 9 November 2017.

A Norwegian Translation of this notice is included in the full notice which can be downloaded as per below. In case of any inconsistency between the Norwegian translation and the English text, the English text shall prevail.

 Notice of outcome

Capitalized terms not defined herein shall have the same meaning as in the Terms and Conditions.

In the Written Procedure for which notice was given on 25 June 2020 and last date to vote was 10 July 2020 at 12:00 (CET), the Trustee hereby announce the successful completion of the Written Procedure. The Written Procedure was initiated by the Trustee in accordance with the obligations in cl. 16.4 under the Terms and Conditions, in order to seek instructions from the Bondholders concerning the possibility to accelerate the bonds (the “Request”) as fully described in Schedule 1. 

Eligible replies corresponding to 46,57 per cent of the Adjusted Nominal Amount have been received in the Written Procedure. It was thus established that the requisite quorum of at least 50 per cent of the Adjusted Nominal Amount was not achieved. The Request was therefore neither accepted nor rejected.

The Request was approved by 68,80 per cent of the eligible votes received in the Written Procedure. The consent requirements in cl. 19.9 of Bondholders representing more than 50 per cent of the Adjusted Nominal Amount for which Bondholders reply in the Written Procedure was therefore met.

 A potential initiation of a Second Written Procedure in accordance with cl. 19.11 under the Terms and Conditions will if applicable be decided and announced shortly.

 

 

For further information, please contact:

 

Eleonore Foss

Intertrust (Norway) AS

[email protected]

+47 958 14 513

 

Andreas  W. Hennyng

Intertrust (Norway) AS

[email protected]

 

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