Notice from bondholders’ meetings
5 October 2021
Ocean Yield ASA (the "Issuer") has today received minutes from the Bondholders’ meetings held pursuant to the Summons to Bondholders’ meeting dated 21 September 2021 for the senior unsecured bond issues maturing in 2023 (OCY05 - ISIN NO 0010823214) and 2024 (OCY07 - ISIN NO 0010869720) and its perpetual hybrid callable bond issue (OCY06 - ISIN NO 0010861594).
For the unsecured bond maturing in 2023 (OCY05 - ISIN NO 0010823214), a sufficient quorum was present and the bondholders approved the Issuer’s proposal.
For the unsecured bond maturing in 2024 (OCY07 - ISIN NO 0010869720), a sufficient quorum was present and the bondholders approved the Issuer’s proposal.
With respect to the perpetual hybrid callable bond issue (OCY06 - ISIN NO 0010861594), the Issuer’s proposal did not achieve the sufficient majority of votes to be approved.
Notices from the respective bondholders' meetings are attached.
As a consequence of the above, amendment agreements will be entered into for OCY05 and OCY07. The bond terms for OCY06 will remain unchanged.
The recommended voluntary offer for all the shares in the Issuer by Octopus Bidco AS, a company indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates, is not conditional on any approval from the Bondholders. The perpetual hybrid callable bond issue can be called by the Issuer at 101% and settled within 30 to 60 days following a change of control event having occurred.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Eirik Eide (CFO), Tel +47 24 13 01 91
Investor Relations contact:
Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82
Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity.