Brief: TTS Group Initiates Process To Extend Bank Facilities And Convertible Bond

Nekkar Asa

31/05/2019 09:57

May 31 (Reuters) - TTS Group ASA  TTSM.OL :
    * REG-TTS GROUP ASA: SUMMONS TO BONDHOLDER MEETING RE
EXTENSION OF
CONVERTIBLE BOND
    * CONTEMPLATED TRANSACTION BETWEEN TTS AND
MACGREGOR/CARGOTEC IS
STILL AWAITING CLEARANCE FROM CHINESE AUTHORITIES
    * INITIATED A PROCESS TO EXTEND BOTH BANK FACILITIES AND
CONVERTIBLE BOND IN ORDER TO SECURE FUNDING IN CASE OF FURTHER
DELAYS
    * PROCESS TO  GIVE TIME TO PLAN AND IMPLEMENT REFINANCING OF
TTS
ON A POTENTIAL STAND-ALONE BASIS.
    * IS IN DIALOGUE WITH ITS BANKS (NORDEA AND DNB) ABOUT
EXTENSION
OF COMPANY'S BANKING FACILITIES FOR FOUR MONTHS
    * HAS RECEIVED INDICATIONS FROM A 2/3 MAJORITY OF
BONDHOLDERS THAT
THEY INTEND TO SUPPORT SUCH PROPOSAL

Source text for Eikon:  ID:nGNEbknV4k 
Further company coverage:  TTSM.OL 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))