Summons to bondholders’ meeting
Det norske oljeselskap ASA ("DETNOR") today summoned to a bondholders' meeting in its DETNOR02 bond loan to request certain amendments to the bond agreement.The proposal to bondholders includes, inter alia, an exchange of the adjusted equity ratio covenant currently in the bond agreement for a leverage ratio covenant and interest ratio covenant, to harmonise the financial covenants with the company’s bank facility (RBL) agreement. As compensation, bondholders are offered a one-time consent fee of 1.00 percent of the face value of the bonds, increased coupon by 1.50 percent per annum to 3-