ML 33 asks bondholders to extend 5½% bonds due 2021 by one year

By Marisa Wong

Los Angeles, June 2 – ML 33 Holding AS has requested Nordic Trustee AS to summon a bondholders’ meeting to consider an amendment to its 5½% bonds, issue 2016/2021 (ISIN: NO0010768492), according to a notice.

The issuer is proposing to extend the maturity date of the bonds by one year to Dec. 27, 2022.

The issuer is offering to pay a 0.5% consent fee, payable 10 business days after the proposal has been approved.

The proposal requires approval from holders of a two-thirds majority of the bonds.

The meeting will be held at 7 a.m. ET on June 16.

In order to have a quorum, at least half of the voting bonds must be represented at the meeting.

The company said it has been in talks with and received support from investors representing a total of about 70% of the bonds prior to issuing the bondholder meeting summons.

Arctic Securities AS (+47 21 01 32 71, +47 48 40 32 71, joakim.noraas@arctic.com) has been appointed as financial adviser.

ML 33 owns, manages and leases real estate properties and is based in Oslo.

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