Reference is made to previous press releases by Icelandair Group (the “Company”) in which it was informed that the Company’s unsecured bondholders have temporarily waived the gross leverage covenants in clauses 12 (b) and 12 (c) (the “Covenants”) of the terms and conditions of the Company’s USD 190 million senior unsecured bonds carrying ISIN NO0010776982 (the “Bonds”), conditional on reaching a long-term agreement with the bondholders no later than 30 November 2018.
The waiver period expires on November 30th 2018, but the Company is preparing a new written procedure and will on Monday give instructions to Nordic Trustee & Agency AB (publ), being the agent under the Bonds, to initiate a written procedure in order to request that the bondholders vote in favor of a long-term solution.
The Company will distribute the written procedure through the bond trustee in accordance with the terms and conditions. The proposal includes, inter alia, as will be further described in the notice of written procedure:
The notice of the written procedure will be available on the Company's website (www.icelandairgroup.is) and on Stamdata (www.stamdata.com).
DNB Markets is acting as the Company’s financial adviser
For further information, please contact:
Bogi Nils Bogason, Interim President & CEO
Telephone: +354 5050300
+47 46907424 / firstname.lastname@example.org
This information is information that Icelandair Group hf. is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 17:15 CET on 30.11 2018.