Veidekke obtains bondholder approval to amend floaters due 2018

By Marisa Wong

Madison, Wis., Sept. 24 – Veidekke ASA received bondholder approval to amend its NOK 500 million floating-rate notes due June 2018, according to a notice from Nordic Trustee ASA.

The company held a bondholders’ meeting on Wednesday seeking approval to lift the aggregate amount of debt to NOK 500 million from NOK 300 million.

In exchange, the company offered a flat fee of 0.025% of par.

There were sufficient bondholders present at the meeting to form a quorum, and the proposed resolution obtained 98.99% of the votes.

The bonds were issued May 29, 2013 with a rate of Nibor plus 175 basis points.

Veidekke is a construction company based in Oslo.

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