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Exmar seeks holder approval to amend NOK 700 million 4½% bonds due 2017
By Susanna Moon
Chicago, Aug. 22 – Exmar NV is seeking bondholder approval to amend its NOK 700 million 4½% senior bonds due 2017.
The company is seeking to change the issuer of the bonds to Exmar Netherlands NV, and Exmar NV will be a party to an amended agreement as parent and guarantor, according to trustee Norsk Tillitsmann ASA.
The company will hold a meeting to approve the amendments on Sept. 4 in Oslo.
There is a one-time amendment fee of 0.05%. Holders must be of record as of the end of the business day on the meeting date.
DNB Bank ASA, DNB Markets and Pareto Securities AS are the financial advisers.
In order for the measure to pass, bondholders representing two-thirds of the bonds represented at the meeting must vote for it. In order to form a quorum, at least half of the voting bonds must be represented at the meeting.
The notes were issued in 2014.
Exmar NV is a Belgium-based company that, together with its subsidiaries, is engaged in the shipping business for the oil and gas industry.
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