Reference is made to the stock exchange notice
dated 29 November 2016 in which Boa Offshore AS
(BOFF) on behalf of itself and its subsidiaries
(the "Group") announced that a financial
restructuring was initiated.
BOFF on behalf of the Group, has since the
initiation of the financial restructuring been in
constructive dialogue with an ad-hoc committee of
bondholders, representing each bond issued by the
Group, as well as the Group's lending banks and
GIEK.
The outcome of these discussions constitutes a
restructuring proposal, which now will be put
forward for voting. Summons for a joint Bond-
holder's Meeting have today been submitted to
Nordic Trustee ASA for each of the following
bonds issued by the Group (together the
"Bonds Issues"):
- ISIN NO 001 0720790 - FRN Boa OCV AS Senior
Secured Bond Issue 2014/2019 ("OCV Bonds")
- ISIN NO 001 0675051 - FRN Boa SBL AS Senior
Secured Bond Issue 2013/2018 ("SBL Bonds")
- ISIN NO 001 0699077 - FRN Boa Offshore AS Senior
Unsecured Bond Issue 2013/2018 ("Unsecured Bonds")
- ISIN NO 001 0741895 - FRN Boa Offshore AS
Subordinated Callable Bond Issue 2015/2018
("Subordinated Bonds")
The meetings will be held on 7 July 2017. Votings
will be carried out separately for each of the Bond
Issues.
Please find the summons attached.
For further information, please contact:
Helge Kvalvik, CEO: Tel +47 97 97 97 72, or
Albert Strand, Director Finance and Risk:
Tel +47 90 74 44 61
About Boa Offshore:
Boa Offshore is a Norwegian-based global offshore
supply vessel owner and operator with a well-
diversified fleet of 34 units focused on subsea,
barges, tugs, seismic, AHTS, engineering and project
management. The company has the most sophisticated
semi-submersible barge fleet in the world and holds
the global market-leading position for heavy lift
barges. The Boa group is an experienced and focused
operator with more than 40 years of history.