Havila holders vote to amend bonds in connection with acquisition

By Marisa Wong

Madison, Wis., May 30 - Holders of Havila AS' senior secured callable bonds due 2014 voted in favor of a resolution to amend the bonds at a meeting on Tuesday.

According to a notice by trustee Norsk Tillitsmann AS, there were sufficient bondholders present at the meeting to form a quorum, and the proposed resolution obtained 100% of the votes.

As previously announced, the company proposed changes that would allow it to incur bank debt under the bond agreement.

The amendments also allow the company to call the bonds at 107 beginning Dec. 30, 2012, at 106 from March 27, 2013 to September 2013 and at 103 after that.

The resolution is connected to Havila's acquisition of Havila Ariel ASA, according to a previous notice by Norsk Tillitsmann.

Havila is a Fosnavag, Norway-based shipping company.

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