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

9 November 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

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”). 

Capitalised 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 2 November 2020 and last date to vote was 6 September 2020 at 16:00 CET, the Trustee hereby announce the successful completion of the Written Procedure. The Written Procedure was initiated in order for the Bondholders to consider whether they would instruct Intertrust to appeal a resolution to enter into an agreement concerning transfer of business in accordance with the Norwegian Bankruptcy Act §117a (the “Request”) as fully described in Schedule 1. 

Eligible replies corresponding to 7,15 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 war therefore neither accepted nor rejected. 

The Request was approved by 100 per cent of the eligible votes received in the Written Procedure. The consent requirements in cl. 19.9 of Bondholders representing more than fifty (50) 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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