Norway’s yA Bank aims to amend two notes series due 2019 for merger

By Susanna Moon

Chicago, March 8 – yA Bank is asking for holder approval to amend its NOK 400 million principal amount of outstanding two-year notes due 2019 and its NOK 200 million principal amount of outstanding two-year notes due 2019.

Since 2015, the issuer has been a wholly owned subsidiary of Resurs Bank AB, wholly owned by Resurs Holding AB.

Resurs Bank will be merged with the issuer through a cross-border merger with Resurs the surviving entity, according to a notice by Nordic Trustee AS.

The consent fee is 0.1%.

Noteholder approval is required for closing of the merger at a meeting set for March 22 in Oslo.

To form a quorum, there must be at least half of the voting bonds represented at the meeting. For the measure to pass it requires at least two-thirds of the votes cast.

yA Bank is a Oslo-based bank.

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