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Exmar gets holder approval to amend NOK 700 million 4½% bonds due 2017
By Marisa Wong
Madison, Wis., Sept. 4 – Exmar NV obtained needed bondholder approval to amend its NOK 700 million 4½% senior bonds due 2017, according to a notice from Nordic Trustee ASA.
A bondholders meeting was held on Thursday with sufficient holders present to form a quorum. The proposed resolution obtained 99.64% of the votes.
As announced on Aug. 21, the company sought to change the issuer of the bonds to Exmar Netherlands NV, with Exmar NV as parent and guarantor under an amended agreement.
In order for the measure to pass, bondholders representing two-thirds of the bonds represented at the meeting had to vote for it. In order to form a quorum, at least half of the voting bonds had to be represented at the meeting.
Holders had to be of record as of the end of the business day on the meeting date to participate.
There is a one-time amendment fee of 0.05%.
DNB Bank ASA, DNB Markets and Pareto Securities AS are the financial advisers.
The notes were issued in 2014.
Exmar NV is a Belgian company that transports gas and, in particular, liquefied gases.
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