Norway’s yA Bank gets approval to amend two note series for merger

By Sarah Lizee

Olympia, Wash., March 22 – yA Bank received approval from holders on Thursday 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, according to two notices from trustee Nordic Trustee AS.

There were at least half of the voting bonds represented at a meeting on Thursday, which was required to form a quorum. For the measure to pass, it required at least two-thirds of the votes cast. The resolution received 100% of the votes and the proposal was adopted.

As previously reported, the bank asked for holders to approve the amendments in connection with a planned merger.

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.

Noteholder approval was required for closing of the merger.

yA Bank is a Oslo-based bank.

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