Bakkegruppen repeats ask for waiver on floating-rate bonds

Chicago, Dec. 20 – Bakkegruppen AS again asked bondholders for a waiver relating to the company’s NOK 500 million senior secured floating-rate bonds due 2025 (ISIN: NO0010917750), according to an announcement.

The issuer is asking bondholders to waive financial reports for the quarter ended Sept. 30.

Since this is a repeated notice, the company only needs a response from holders representing half of the bonds. Of those responding, two-thirds need to vote in favor of the waiver.

The response needed for the initial Dec. 4 notice of written resolution was a quorum representing 75% of the bonds.

Votes are due to the bond trustee by 7 a.m. ET on Jan. 9.

Questions can be directed to the issuer’s financial adviser, ABG Sundal Collier (ola.nygard@abgsc.no, Haakon.hoiberg@abgsc.no) or to the issuer’s legal adviser at Advokatfirmaet Schjodt AS (peter.bugge.hjorth@schjodt.com).

Nordic Trustee is the bond trustee (mail@nordictrustee.com).

The commercial and residential construction company is based in Norway.

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