Date: 13 May 2009

Nordic Heavy Lift ASA Proposal to redeem Bond Loan

Nordic Heavy Lift ASA, NHL, has put forward a restructuring proposal in order to enable an orderly redemption of the "Nordic Heavy Lift ASA Senior Secured Callable Bond Issue 2007/2012".

The proposal is comprised of a 40% of par value cash payment in addition to an 18.5% of par value convertible note which will ensure bondholder participation in a hopefully upside following a successful establishment of a total financing solution for Nordic Heavy Lift ASA. The proposal is pre‐approved by the largest bondholder representing 61% of outstanding bonds.

Further details concerning the proposal appears in the summons to the bondholder meeting to be held on 25th May 2009 and the summons to the extraordinary general meeting to be held on 28th May 2009.

For more information:
CEO Rob Boer T +31 (0)8800 62710 M+31 (0)6 5356 5933

‹‹ Back to overview