SL Bidco drops bondholder meeting; floaters to be listed by Wednesday

By Susanna Moon

Chicago, Feb. 5 – SL Bidco BV canceled the holder meeting on Feb. 5 under its senior secured floating-rate bonds due 2023.

The issuer has received confirmation that the bonds will be listed on the Oslo Stock Exchange by Feb. 6, as required under the bond terms, according to a notice from bond trustee Nordic Trustee AS.

As announced Jan. 22, the issuer was asking holders to extend the listing deadline, specifically to 15 months after the bond issue date from the current 12 months.

The issuer was in the process of transitioning from Dutch GAAP to IFRS accounting principles, which caused some delays to the listing process, as previously noted.

In return for approving the change, the issuer was offering to increase the interest rate on the bonds by 100 basis points from Feb. 6 to and including the date on which the bonds were listed.

SL Bidco is a special purpose entity based in the Netherlands.

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