Norwegian Car Carriers wants to redeem notes, needs holder approval

By Angela McDaniels

Tacoma, Wash., Feb. 21 - Norwegian Car Carriers ASA plans to redeem its NOK 21 million of outstanding floating-rate notes due 2013 at par plus accrued interest on March 12, according to a notice from trustee Norsk Tillitsmann ASA.

The company must gain noteholder approval before it can redeem the notes. Noteholders will vote on the redemption at a meeting at 7 a.m. ET on March 7 in Oslo.

The holders of at least half of the notes must be represented in person or by proxy at the meeting, and the holders of at least two-thirds of the notes represented at the meeting must vote in favor of the proposal in order for it to pass.

Norsk Tillitsmann said that according to the company, the holders of more than two-thirds of the notes have granted their preapproval and will vote in favor of the proposal.

Noteholders with questions can contact Simen Flaaten at RS Platou Markets AS (47 22 01 63 77 or s.flaaten@platoumarkets.com).

Norwegian Car Carriers, formerly Eidsiva Rederi ASA, is an Oslo-based shipping company that transports cars and other rolling cargoes.

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