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Aker: Holders may exercise dividend put option under bonds due 2020
By Susanna Moon
Chicago, Feb. 22 – Aker BP notified holders of a dividend put option under its bonds due 2020, which may be exercised until March 5.
The notes are putable at 107% of par plus accrued interest because the issuer made a distribution to its shareholders of NOK 1,588,611,936 on Feb. 19, which constitutes a distribution event under the note terms, according to the notice.
The maximum number of bonds to be repurchased by the issuer will be 1,588,611,936 divided by the face value, or 1,588,611,936, the notice said.
The issuer said it holds NOK 7,690,568 of the bonds.
The notes were issued in 2013.
Fornebu, Norway-based Aker BP focuses on petroleum resources on the Norwegian Continental Shelf.
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