Havyard Group: Summons to Bondholders’ Meeting


Havyard Group ASA («HYARD» or the “Company”) summons today for a Bondholders’ Meeting for its Bond Loan HYARD01 PRO to request amendments of the terms of the Bond Agreement.

The Company has through discussions with a number of Bondholders received support for the proposed changes to the Bond Agreement from more than 2/3 of its outstanding Bonds.

The Company propose to make a one-time cash redemption of NOK 31.4m and implement a revised amortization schedule of NOK 2.5m per quarter against an extension of the term of the Bonds to Q2’2020. In addition and as compensation to the Bondholders for resolving the amendments, the interest rate of the Bond Loan is proposed to be increased by 1.25 % to NIBOR 3 Month + 8.25%.



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