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European Energy asks holders of 2017/2021 bonds to approve new issue
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – European Energy A/S is asking holders of its outstanding senior secured callable floating-rate bonds 2017/2021 to consent to a resolution permitting the company to issue up to €25 million of additional bonds by July 1.
According to a notice from Nordic Trustee A/S, the company will pay an early consent fee in an unspecified amount to holders who vote in favor of the proposal by 10 a.m. ET on March 5.
A bondholders’ meeting has been set for 4 a.m. ET on March 14.
In order for the measure to pass, it must be approved by bondholders representing at least two-thirds of the adjusted nominal amount of bonds represented at the meeting. In order for a quorum to be established, at least 20% of the adjusted nominal amount of the bonds must be represented at the meeting.
Proceeds of any new issuance would be used for investments and for general corporate purposes.
Nordic Trustee (+45 7219 64 07 or mail@nordictrustee.dk) is the contact listed on the notice.
European Energy is a Soborg, Denmark-based company that develops, finances and builds wind and solar farms.
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