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

3 September 2020

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

A Norwegian translation 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

Intertrust (Norway) AS (the “Trustee”) is acting as Trustee on behalf of the Bondholders under the terms and conditions relating to the Bonds dated 9 November 2017 (the “Terms and Conditions”). 

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 19 August 2020 and last date to vote was 3 September 2020 at 12:00 CET, the Trustee hereby announce the successful completion of the Written Procedure. The Written Procedure was initiated by the Trustee upon request from the ad hoc Bondholders’ Committee for the purpose to amend the Terms and Conditions by having the Bondholders to amend certain requirements under the Terms and Conditions (the “Request”) as fully described in Schedule 1.

Eligible replies corresponding to 45,11 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 76,42 per cent of the eligible votes received in the Written Procedure. The consent requirements in cl. 19.8 of Bondholders representing more than sixty-six two thirds (66 2/3) per cent of the Adjusted Nominal Amount for which Bondholders reply in the Written Procedure was therefore met. 

A Second Written Procedure will be initiated shortly in accordance with cl. 19.11 under the Terms and Conditions. 

 

For further information, please contact:

For the Trustee:

Eleonore Foss 

Intertrust (Norway) AS

[email protected]

+47 958 14 513

 

Andreas W. Hennyng

Intertrust (Norway) AS

[email protected]

+47 971 87 151

 

 

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