Hoegh LNG obtains bondholder consent to amend floaters due 2017

By Jennifer Chiou

New York, Oct. 3 - Hoegh LNG Holdings Ltd. announced that holders of its senior floating-rate callable 2012/2017 bonds voted to approve amendments at an Oct. 3 meeting.

Hoegh LNG sought to amend the pro forma equity ratio definition and other related definitions under the bond agreement so that it can enter into bareboat charters without violating current capital expenditure requirements.

As reported last month, the issuer offered bondholders of record as of Oct. 4 a one-time amendment fee of 0.25%.

Holders representing at least two-thirds of the bonds represented had to vote in favor of the resolution in order for it to pass, and at least half of the bonds had to be represented at the meeting in order to form a quorum.

The bond trustee is Norsk Tillitsmann ASA.

Hoegh LNG is a Norwegian liquefied natural gas shipping company. The holding company is based in Hamilton, Bermuda.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.