Vieo gets OK to amend 6¾% notes to add call at 101, delay filings

By Tali Rackner

Minneapolis, June 15 – Vieo BV obtained enough votes from holders to amend its €350 million of outstanding 6¾% senior secured callable bonds due 2022, according to a notice from Nordic Trustee AS.

As previously reported, the company asked for waivers under the note issue to delay filing its annual financial statements until 210 calendar days from the current 120 days allowed.

Meanwhile, the interim accounts deadline will be pushed out to 120 calendar days from 60 days.

The issuer was also seeking to amend the call option under the notes to add a provision that allows it to call the notes from Sept. 1 through May 31, 2019 at a call price of 101.

The call option will be exercisable with 10 to 15 days’ notice in writing.

There were sufficient bondholders at the June 15 meeting. The proposed resolution obtained 99.39% of the votes and the proposal was adopted.

Vieo issued a press release on April 30 saying that it would call the notes and is “currently in discussions with a number of third parties to put in place alternative financing arrangements.”

The company issued €400 million of the bonds in 2017.

Vieo provides wireline telecommunication services and operates in the Netherlands and is the holding company for London-based telecom Lebara Group.

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