Norwegian Car Carriers 10½% bondholders get put option through July 22

By Angela McDaniels

Tacoma, Wash., April 23 - Norwegian Car Carriers ASA's 10½% senior bonds due 2015 are putable at par plus accrued interest through July 22, according to a notice from bond trustee Norsk Tillitsmann ASA.

The notes are putable because the issuer's shares were delisted from the Oslo Stock Exchange on April 7.

As reported on March 21, the notes also became putable at par plus accrued interest when Car Carrier Investments AS purchased 95.6% of the issuer's shares, triggering a change of control. That put option expires on June 23.

Norwegian Car Carriers, formerly Eidsiva Rederi ASA, is an Oslo-based shipping company that transports cars and other rolling cargos.

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