Norwegian bondholders agree to new terms
Norwegian Air Shuttle has secured some financial breathing space, after its bondholders voted in favour of changes to their investment terms. Norwegian has been seeking to delay the repayment of two unsecured bonds, NAS07 and NAS08, to ensure sufficient liquidity for the coming winter. The company wanted to extend the maturity date of NAS07 from Dec 2019 to Nov 2021, while NAS08—due in Aug 2020—would be pushed back to Feb 2022. In return for the extension, the company was offering bondholders an interest rate premium and additional security. Updating the market Sept. 16, Norwegian said both sets of bondholders voted in favour of the proposed amendments “with sufficient majority.” Norwegian acting CE Geir Karlsen said: “It will give us added financial headroom going forward,” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-09-17/unaligned/norwegian-bondholders-agree-to-new-terms
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Norwegian bondholders agree to new terms
Norwegian Air Shuttle has secured some financial breathing space, after its bondholders voted in favour of changes to their investment terms. Norwegian has been seeking to delay the repayment of two unsecured bonds, NAS07 and NAS08, to ensure sufficient liquidity for the coming winter. The company wanted to extend the maturity date of NAS07 from Dec 2019 to Nov 2021, while NAS08—due in Aug 2020—would be pushed back to Feb 2022. In return for the extension, the company was offering bondholders an interest rate premium and additional security. Updating the market Sept. 16, Norwegian said both sets of bondholders voted in favour of the proposed amendments “with sufficient majority.” Norwegian acting CE Geir Karlsen said: “It will give us added financial headroom going forward,” <br/>
