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    Havila withdraws summons for bondholder meetings

    Company News // January 20, 2016

    Havila Shipping in Norway has withdrawn a summons to bondholders' meetings that it issued following its recently announced restructuring.

    In a statement, the company said: "Based on uncertainty regarding sufficient support for the proposal in one or more of the bondholders' meetings, the company has notified the trustee that it is withdrawing the summons for all bond issues."

    The company said it still aims to reach an agreement with its bondholders by the previously announced deadline of 31 January 2016.

    In early January the company said it had reached a refinancing deal with its banks which would help secure the future of the company until 2018.

    However, Njål Sævik, chief executive officer of Havila Shipping, said the company "will not be secured until both the equity issue and a deal with the bondholders are in place."

    The Fosnavaag-based company needs to finalise a deal with bondholders by the end of January and raise NKr 200 million in new equity by 15 March. 

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