Bondholder's meeting in Aker Kvaerner
A bondholder's meeting in Aker Kvaerner's subordinated loan today voted against Aker Kvaerner's request for certain amendments to the loan agreements.
Aker Kvaerner had called for the meeting 25 April and the rationale for the proposed amendments were primarily to enable the Aker Kvaerner group to structure its debt in a more traditional way at parent company level and to clarify certain restrictions in the dividend covenant.
Aker Kvaerner takes notice of the outcome of the bondholders meeting.
"The refinancing strategy and dividend policy of the Aker Kvaerner group remains firm and the decision in the bondholders meeting will not effect ongoing processes in the company," says Bjørn Erik Naess, EVP and CFO.
ENDS
For further information, please contact:
Media:
Torbjørn Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542
Torbjørn Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542
Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner, Tel: +47 67 51 30 39
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner, Tel: +47 67 51 30 39
AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.
The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 41.4 billion and employs approximately 21 000 people in more than 30 countries.
Aker Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 40 000 employees and NOK 62 billion revenues. Aker owns 50.01 per cent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.
This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com