Telio gets holder approval to call bonds due 2017 at 109.5% of par

By Angela McDaniels

Tacoma, Wash., Feb. 5 - Telio Holding ASA received approval to redeem its senior bonds due 2017 as part of a financial debt restructuring.

At a bondholder meeting on Feb. 5, there were enough bondholders present to form a quorum, and the proposed resolution received 89.42% of the votes, according to a notice from trustee Norsk Tillitsmann ASA.

As a result, the bond agreement will be changed, and the bonds will be redeemed on or around March 7 at 109.5% of par plus accrued interest.

The company originally proposed a call price of 108.5% of par. It increased the proposed price on Jan. 22.

Previously, the company said it had agreed on amended loan facilities with Nordea. The facilities are a NOK 250 million five-year term loan and a NOK 75 million overdraft facility.

The VoIP service provider is based in Oslo.

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