TTS Group holders approve four-month convertible bond loan extension

By Caroline Salls

Pittsburgh, June 17 – TTS Group ASA announced Monday that holders of its 10% convertible callable unsecured subordinated bond issue 2011/2016 unanimously approved proposed changes to the bond issue.

According to a news release, the bondholder meeting approved a four-month extension to the company’s convertible bond loan, to Nov. 18 from July 18.

TTS said a general meeting is scheduled for June 27 to request approval of a corresponding four-month extension of conversion rights for the loan.

TTS Group is a Bergen, Norway-based company that designs, develops and supplies equipment for the marine and oil and gas industries.

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