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Scandinavian Air Ambulance seeks extension of notes’ listing deadline
By Angela McDaniels
Tacoma, Wash., Sept. 22 – Scandinavian Air Ambulance Holding AB (publ) is asking noteholders for more time to list its SEK 250 million fixed-rate senior notes on Nasdaq OMX Stockholm, according to a notice from noteholder agent CorpNordic Sweden AB.
The company was acquired by the Avincis Group on June 30 and said its focus has been on the acquisition and the integration rather than meeting the timetable for listing the notes. In addition, the transition to the accounting principles used by the Avincis Group has taken longer than Scandinavian Air Ambulance anticipated.
Under their current terms, the notes must be admitted to trading by Oct. 15. If this deadline is not met, the notes will become putable at 101 plus accrued interest.
If the consents are granted, the deadline will be extended to Dec. 15.
This would be the second extension of the deadline. The notes were issued in June 2013. Under their original terms, they had to be admitted to trading within 360 days of issuance. In April 2014, the company received noteholder consent to extend this deadline to Oct. 15.
In addition, the company is seeking consents to provide financial reporting information semiannually rather than quarterly.
Noteholders must be of record as of Sept. 25 in order to participate, and they must submit their voting forms to the agent by Oct. 13.
The holders of at least 20% of the adjusted nominal amount of notes must submit voting forms in order to form a quorum, and the holders of more than 50% of the adjusted nominal amount of notes for which voting forms are received must consent to a request in order for it to be approved.
CorpNordic Sweden can be contacted at 46 8 402 72 00 or trustee@corpnordic.com.
Scandinavian Air Ambulance provides ambulance transportation via helicopter and airplane and is based in the Stockholm-Arlanda Airport.
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