Notice of outcome in Second Written Procedure for bonds issued by Blåfjell AS

To the bondholders in senior secured bonds with ISIN NO 001 080980.9 (NOK Bonds) (the”Bonds”) issued by Blåfjell AS (the “Issuer”) on 9 November 2017. 

A Norwegian translation of the notice is included in the full notice which can be downloaded as per below. In case of any inconsistency between the Norwegian translation and the English text, the English text shall prevail. 

Notice of outcome

Intertrust (Noway) AS (the “Trustee”) is acting as Trustee on behalf of the Bondholders under the terms and conditions relating to the Bonds dated 9 November 2017 (the “Terms and Conditions”).

Capitlised terms not defined herein shall have same meaning as in the Terms and Conditions.

In the Second Written Procedure for which notice was given on 3 September 2020 and last date to vote was 17 September 2020 at 16:00 CET, the Trustee hereby announce the successful completion of the Second Written Procedure. The Second Written Procedure was initiated by the Trustee upon request from the ad hoc Bondholders’ Committee for the purpose to amend the Terms and Conditions by having the Bondholder to amend certain requirements under the Terms and Conditions (the “Request”) as fully described in Schedule 1. 

Eligible replies corresponding to 45,11 per cent of the Adjusted Nominal Amount have been received in the Second Written Procedure. Pursuant to cl. 19.11, the quorum requirement in cl. 19.10 shall not apply to a Second Written Procedure. The received votes will therefore be decisive. 

The Request was approved by 76,42 per cent of the eligible votes received in the Second Written Procedure. The consent requirements in cl. 19.8 of Bondholder representing more than sixty-six and two thirds (66 2/3) per cent of the Adjusted Nominal Amount for which Bondholders reply in the Second Written Procedure was therefore met. 

For further information, please contact:

For the Trustee:

Eleonore Foss

Intertrust (Norway) AS

eleonore.foss@intertrustgroup.com

+47 958 14 513

Andreas W. Hennyng

Intertrust (Norway) AS

andreas.w.hennyng@intertrustgroup.com

+47 971 87 151