18 April 2017
Capitalized terms not otherwise defined in this notice shall have the meaning given to them in the terms and conditions relating to the Bonds (the “Terms and Conditions”).
Intertrust (Sweden) AB is the trustee for the Bondholders under the Terms and Conditions.
On 14 July 2016 Koggbron AB (publ) issued senior secured callable fixed rate bonds (ISIN: NO0010769128, NO0010769110 and NO0010769136) with a maximum nominal amount of SEK 190,000,000 (or its equivalent in NOK and USD). The Bonds had an initial six month term and were extended on the 6 December 2016 with three months. As of last week the holders of the Bonds have been informed that the Issuer will not be able to redeem the Bonds in full on the Final Maturity Date on the 18 April 2017.
The Issuer is planning on issuing a new bond at the end of April 2017 thus the proceeds from the new bond will i.e. refinance the existing bond.
Pursuant to Clause 14.10 (Acceleration of the Bonds), the Trustee shall within twenty (20) Business Days of actual knowledge of the Event of Default has occurred and is continuing decide whether the Bonds shall be accelerated. If the Trustee, during the stipulated time period, decides to not accelerate the Bonds, the Trustee will promptly seek instructions from the Bondholders.
Please note that Bondholders representing at least 10 per cent. of the Adjusted Nominal Amount may request that a Bondholders’ Meeting is convened for the purpose of deciding on a matter relating to the Finance Documents, including instructions to the Trustee to accelerate the Bonds.
The Trustee:
Intertrust (Sweden) AB
Sandra Andersson
Email: trustee@intertrustgroup.com
Tel: +46 70-860 61 25
Kristofer Nivenius
Email: trustee@intertrustgroup.com
Tel: +46 (0)70 688 19 10