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Convene Holding seeks to extend maturity on 8% first-lien bonds
By Marisa Wong
Los Angeles, Oct. 25 – Convene Holding AS is requesting to extend the maturity date of its NOK 350 million 8% senior secured callable open bond issue 2017/2023 (ISIN: NO0010808256).
The issuer wants to extend the first-lien bonds’ maturity date, and the interest payment date that falls on the same date, to Nov. 14, 2022 from Oct. 30, 2022, according to a notice.
The issuer has requested that the bond trustee, Nordic Trustee AS, summon a written resolution for bondholders to approve the proposed changes.
Bondholders will vote on the proposal through a written resolution. No bondholders’ meeting will be held, the issuer noted.
The voting period will expire at 10 a.m. ET on Oct. 28.
The proposed resolution will be passed if either (a) holders representing at least a two-thirds majority of the total number of voting bonds vote in favor of the proposal prior to the expiration of the voting period; or (b) a quorum representing at least 50% of the total number of voting bonds submits a timely response to the summons and the votes cast in favor of the proposed resolution represent at least a two-thirds majority of the voting bonds that timely responded to the summons.
Voting forms must be submitted, along with proof of ownership, to the bond trustee at mail@nordictrustee.com.
Questions may be directed to the issuer through chairman Halldor Christen Tjoflaat (halldor@tjoflaat.no).
Questions for the bond trustee should be directed to Lars Erik Laerum (+47 22 87 94 06; laerum@nordictrustee.com).
Bondholders may also contact advisers Arctic Securities AS (Kristian Hammarstrom; kristian.hammarstrom@arctic.com) and Pareto Securities AS (Lisa Karlsen; Lisa.Karlsen@paretosec.com).
Formerly known as HI Bidco AS, Convene is a Sandane, Norway-based investment company.
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