Link Mobility bondholder resolution passes for 3 3/8% notes due 2025

Chicago, June 16 – Norway’s Link Mobility Group ASA announced that the written bondholder’s resolution has been resolved and adopted for the company’s 3 3/8% notes due 2025 (ISIN: NO0010911506), according to a notice.

The company was seeking a temporary waiver of the leverage ratio so that it could incur new debt. Link Mobility wants to raise the leverage ratio to 5.1x from 3.5x.

It was also seeking a permanent increase to the maximum issue amount to €370 million. The company planned a tap issue of the notes, which it has executed.

Link was offering to pay a waiver fee to noteholders of the initial €200 million of the notes, based on a pro rata share of €2 million, or 1% of the initial issue amount of the bonds.

The company was also paying an undertaking fee to initial noteholders who gave their irrevocable pre-consent early. The undertaking fee was 0.5% of the principal amount of notes held by the consenting bondholders and will be paid five days after the effective date.

Financial advisers for the proposal, which was announced on June 14, are ABG Sundal Collier ASA and Danske Bank, Norwegian Branch.

Link Mobility Group ASA is an Oslo-based provider of mobile solutions and mobile services in the Nordic and Baltic countries.

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