DETNOR02: One-off Put Option Expired

This article originates from the news archive of Det norske.

21. April 2015

Det norske oljeselskap ASA has obtained the results from the One-off Put Option in its DETNOR02 bond loan.

Reference is made to the Summons to Bondholders’ meeting dated March 18, 2015. The deadline to exercise the One-off Put Option at 101% of par plus accrued interest was set to 20 April 2015.

Bondholders representing NOK 24.5 million nominal worth of DETNOR02 have decided to exercise its put options.

Det norske will not cancel the bonds, and the gross nominal amount of DETNOR02 will thus remain NOK 1,900 million.

Det norske will not utilize theunsecured NOK 1,900 million revolving credit facility as provided by Nordea in conjunction with the One-off Put Option.

Nordea Markets has been advisor to Det norske in connection with the amendment process.

The original summons and the full terms of the amendment can be found here (see also “related posts” on the page).