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.

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

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

The full notice can be downloaded as per below, and contains a Norwegian translation. In case of inconsistency between the Norwegian translation and the English text, the English text shall prevail.

Notice to bondholders

In accordance with the previous Notice to Bondholders issued 7 October 2019, the Issuer did not fulfill their obligations under the Terms and Conditions in order to secure that Intertrust would have the first priority pledge in one property at Tjøme (the “Relevant Property”). Further, the Trustee took the necessary steps in order to register the first priority pledge with the Norwegian Land Register, but the estate of bankruptcy informed the Trustee that the registration of the first priority pledge would be claimed annulled in accordance with the Creditors Security Act (Nw. Dekningsloven) section 5-7. 

The Trustee has done the necessary investigations in order to ensure that the administrator of the bankruptcy is entitled to raise such claim in accordance with the above-mentioned statutory basis.

On 6 February 2020, the Trustee received a letter from the estate of bankruptcy, instructing the Trustee to proceed with the necessary steps in order to annul the first priory pledge in the Relevant Property. The Trustee has acted in accordance with this and has now received a confirmation from the Norwegian Land Register stating that the first priority pledge in the Relevant Property has been annulled. 

For further information please contact:

Intertrust (Norway) AS as Trustee

Eleonore Foss

+47 958 14 513

eleonore.foss@intertrustgroup.com

Andreas W. Hennyng

+47 971 87 151

andreas.w.hennyng@intertrustgroup.com