Troms gets holder approval to redeem bonds at 105.25 on Sept. 17

By Angela McDaniels

Tacoma ,Wash., Sept. 3 - Troms Offshore Supply AS received bondholders approval to change the maturity date of its senior secured callable bonds to Sept. 17, 2013 from 2016, according to a notice from bond trustee Norsk Tillitsmann ASA.

Bondholders voted at a meeting on Sept. 2 in Oslo. There were enough bondholders present to form a quorum, and 72.24% of the votes were cast in favor of making the change.

The notes will be redeemed in full on the amended maturity date at 105.25 plus accrued interest.

As reported on Aug. 19, the company called for the bondholder meeting following a change of control.

The company said on May 14 that a wholly owned subsidiary of Tidewater Inc. entered into an agreement with HitecVision to purchase all Troms shares.

Troms said Tidewater does not plan to keep the bonds under its long-term financing strategy, so it proposed changing the maturity date.

The Oslo-based issuer is a private shipping company operating offshore service vessels.

© 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.