Max Two gets consent to change prepayment terms of 5.7% notes due 2024

By Angela McDaniels

Tacoma, Wash., Nov. 3 – Max Two Ltd. received consent to make changes to the prepayment terms of its €100 million 5.7% secured notes due 2024, according to a company announcement.

As previously reported, a quorum was not met at the Oct. 7 meeting held for the noteholders, and the meeting was adjourned to Oct. 28.

The two extraordinary resolutions passed at the adjourned meeting, and the modifications referred to in the extraordinary resolutions have been implemented. They became effective Oct. 31.

The company was seeking prepayment provisions related to its Debstedt windfarm loan and its general windfarm loan. It used the proceeds from the 5.7% notes to lend money for the two projects, requiring noteholders to approve changes to the prepayment terms.

Max Two is a fund based in St. Helier, Jersey.

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