Kongsberg Actuation Systems BV issued an Asset Disposition Offer for part of notes due 2025
Zurich, April 26, 2024: Kongsberg Actuation Systems BV, a subsidiary of Kongsberg Automotive ASA (KA), today published an Asset Disposition Offer to purchase for cash €36,000,000 of outstanding principal amount of its senior secured notes due 2025 (“Notes”). KA has determined that €36,000,000 of the Net Available Cash from the sale of: (i) The Interior Comfort Systems business unit to Lear Corporation, (ii) The Light-Duty Cables business unit to Suprajit Engineering Limited and (iii) A part of Kongsberg Automotive’s operations in Shawinigan, Canada to BRP constitutes “Excess