ML 33 Holding gets votes to amend 5½% notes for parent’s sale plans

By Sarah Lizee

Olympia, Wash., March 18 – ML 33 Holding AS obtained all of the votes to amend its 5½% bond issue 2016/2021 at a meeting held March 18 in Oslo, according to a notice by Nordic Trustee AS.

The issuer was looking to amend the clause under the bond terms regarding the minimum ownership of the parent, as previously reported.

Meteva AS, which owns 34% of the shares in ML 33 Invest AS, the parent or owner of the issuer, is considering selling all or some of its shares in the parent. Under the bond terms, however, there is a requirement that Meteva owns at least 34% of the shares in ML 33 Invest.

In return, the issuer was offering a one-time amendment fee of 1%.

To form a quorum, there had to be at least one-half of bondholders represented at the meeting. To approve the measure, the proposal required votes from a simple majority of the bondholders represented.

For more information, call +47 22 87 94 45 or e-mail slagsvold@nordictrustee.com.

ML 33, formerly known as Arctic Projekt 2 AS, owns, manages and leases real estate properties and is based in Oslo.

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