Atlantica Tender bondholders approve amending 8% second-lien bonds

By Wendy Van Sickle

Columbus, Ohio, Oct. 7 – Atlantica Tender Drilling Ltd. said voting bondholders unanimously approved proposed amendments to its 8% second-lien callable bonds due 2019, according to a notice from bond trustee Nordic Trustee ASA.

As previously reported, Atlantica had proposed, among other things, amending the definitions of change-of-control event, mandatory prepayment event and non-qualifying transaction.

The vote was held at a Wednesday meeting with sufficient bondholders present to establish a quorum, which required at least half of the bonds to be represented.

All bondholders voted in favor of the changes. To pass, the resolution required holders representing at least two-thirds of the bonds to vote in its favor.

Houston-based Atlantica offers solutions to the offshore drilling market with the development of tender assist designs.

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