Jotul bondholders receive waiver fee for late listing on Oslo Bors

Chicago, Nov. 11 – Jotul AS, a subsidiary of Jotul Holdings SA announced that its issue of NOK 475 million senior secured floating-rate bonds due 2024 (ISIN: NO0011104069) will be listed on the Oslo Bors on Nov. 14, later than expected.

In a press release, the company noted that the bonds were supposed to be listed by Oct. 27, one year after they were issued, and the missed deadline triggered an event of default.

Bondholders were asked, via written procedure, to waive the requirement of having the bonds admitted for trading by the final listing date.

As compensation, bondholders are receiving a waiver fee of 25 basis points for the nominal amount of each bond.

The delay was due to the submission of financial statements to the Frankfurt Stock Exchange, the preparation of which took longer than expected.

Nordic Trustee AS was the agent for the bondholders.

Based in Fredrikstad, Norway, Jotul makes stoves, inserts and fireplaces.

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