Kistefos quits soliciting consents to extend half of bonds to October

By Angela McDaniels

Tacoma, Wash., June 24 – Kistefos AS is no longer seeking bondholder consent to extend the maturity of half of its NOK 400 million of senior bonds to Oct. 2, 2015, according to a notice from trustee Nordic Trustee ASA.

The entire issue will be repaid on the scheduled maturity date, July 3, 2015.

The company was seeking the extension to give it more flexibility for completing some asset sales. However, the company has been able to close these sales and is therefore not in need of the extension.

Kistefos began the consent solicitation on June 11. It offered a one-time amendment fee of 1%.

Bondholders were going to vote on the matter at a meeting on June 25 in Oslo. The meeting has been canceled.

Kistefos is an Oslo-based investment company with a portfolio in financial services, telecom, shipping, offshore and other industries.

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