Host Hoteleiendom sets up bondholders meeting on alleged loan breach

By Susanna Moon

Chicago, Dec. 21 - Host Hoteleiendom AS has scheduled a Jan. 24 meeting for holders of its floating-rate notes due 2014 regarding an alleged covenant breach on its subsidiaries' loan facility for DKK 1,047,000,000 and SEK 840 million.

The company is holding the meeting to update bondholders about a group of creditors who have claims on the facility, according to a notice by trustee Norsk Tillitsmann ASA.

The SEK 1.7 billion loan facility is due April 18, 2012.

Host is in discussions with the creditors to extend the facility and dispute the covenant breach, the notice said.

Host is a hotel real estate company based in Oslo.

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