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Norwegian Air Shuttle obtains sufficient votes; amends bond agreement
By Tali Rackner
Norfolk, Va., June 27 – Norwegian Air Shuttle ASA obtained 93.77% of votes at its June 27 bondholder meeting to amend its senior unsecured floating-rate bonds due 2015, according to a notice from bond trustee Norsk Tillitsmann ASA.
As previously reported, the company was seeking to:
• Delete the clause concerning book equity to capital employed;
• Add a minimum book equity that requires the consolidated group to maintain a book equity of at least NOK 1.5 billion; and
• Amend the liquidity clause to require the consolidated group to maintain at least NOK 500 million of liquidity.
Norwegian Air Shuttle is an airline based in Fornebu, Norway.
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