Notice to bondholders in senior secured bonds issued by Filago Prosjekt Holding 1 AS

To the bondholders in senior secured bonds with ISIN NO 001 0865504 (NOK Bonds) and NO 001 0865470 (SEK Bonds) (the “Bonds”) issued by Filago Prosjekt Holding 1 AS (the “Issuer”) on 29 September 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 to bondholders

Intertrust (Norway) AS (the “Trustee”) is acting as Trustee on behalf of the Bondholders under the terms and conditions relating to the Bonds dated 29 September 2017 (the “Terms and Conditions”)

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

Information from Scandinavian Credit Fund 1 AB (publ) (“Kreditfonden”) in respect of the ongoing Written Procedure.

Reference is made to the ongoing Written Procedure initiated 23 March 2020 regarding a proposal from Kreditfonden (the “Proposal”), and the Notice to Bondholders dated 27 March 2020 regarding the assessment made by the Bondholders’ Committee (“BHC”) in respect of the Proposal.

Kreditfonden has requested the Trustee to forward a letter to the Bondholders regarding the Proposal (the “Letter”). The letter is included in the full noticed which can be downloaded in the link above.

In the Letter, Kreditfonden raises a question of why the BHC and the Trustee have not verified the information regarding the calculation of the demand of legal mortgage amounting to maximum NOK 5 200 000. The Trustee wants to clarify that this calculation is reflecting the calculation comunicated to the Trustee in the letter from the Administrator of the bankruptcy estate dated 1 November 2019 and as communicated to the Bondholders by Notice to Bondholders dated 4 November 2019, included in the full notice which can be downloaded in the link above. Neither the Trustee nor the BHC have executed an assessment of this calculation made by the Administrator of the bankruptcy estate.

For further information, please contact:

Eleonore Foss

Intertrust (Norway) AS

eleonore.foss@intertrustgroup.com

+47 958 14 513

Andreas W. Hennyng

Intertrust (Norway) AS

andreas.w.hennyng@intertrustgorup.com

+47 971 87 151