Kistos Holdings Announces Redemption of Kistos NL2 bonds

Source: www.gulfoilandgas.com 12/11/2023, Location: Europe

Kistos announces that on Friday 8th December 2023 its Dutch subsidiary, Kistos NL2 B.V., notified Nordic Trustee AS of the exercise of its Call Option and redemption of all its outstanding bonds. Of the original €150,000,000 of bonds issued by Kistos NL2, €73,168,000 has already been repurchased by the Company.

The Company will redeem the outstanding €76,832,000 (plus accrued and unpaid interest) under both of its Bond Issues at a redemption price equal to 102.5% of the nominal amount for each redeemed bond. The redemption date will be 22 December 2023 and the record date will be 20 December 2023.

Andrew Austin, Executive Chairman of Kistos, said:
"The redemption of the Kistos NL2 B.V. bonds from our cash resources will boost Kistos' profitability by reducing our net interest costs. By removing certain covenants contained in the Bond Terms, it will also enhance our financial flexibility."

For the purposes of UK MAR, the person responsible for arranging the release of this announcement on behalf of Kistos is Andrew Austin, Executive Chairman.


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