Reference is made to the stock exchange notice on 1 October 2024 by Havila Shipping ASA (“Havila Shipping”) which provided information on lenders' decisions to either settle or extend their outstanding loans under the restructuring agreement.
NOK 1,022 million of debt matures on 30 December 2024, whereof NOK 500 million shall be settled in cash and NOK 522 million shall be converted to shares.
In order to refinance the 30 December 2024 maturities, Havila Finans AS a company wholly owned by Havila Holding AS (50.96% owner of Havila Shipping), has mandated Arctic Securities AS to carry out a series of fixed income meetings. A new 2-year NOK 525 million senior secured callable bond issue will follow.
The net proceeds from the bond issue will be on-lent to subsidiaries of Havila Shipping and used to repay in full the debt that shall be settled in cash on 30 December 2024.
