BOURBON: Convening to the general meeting of the holders of BOURBON Corporation's Bonds
05 Avril 2018 - 7:00AM
Paris, April 5, 2018
Convening of the
general meeting of the holders
of BOURBON Corporation Bonds
The holders of Undated Deeply
Subordinated Fixed to Floating Rate Bonds (the "Bonds" and the
"Bondholders") issued by the company under an initial issuance for
a total principal amount of €100 million on October 24, 2014 and a
second issuance of assimilated bonds and forming a single series
with the initial bonds, for a total principal amount of €20 million
on April 24, 2015, are convened to the general meeting of
Bondholders on April 20, 2018, at 2:30 p.m, at the EMD, Montée
de l'Université, Rue Joseph Biaggi, Marseille (France).
In its annual results press
release dated March 15, 2018, BOURBON announced that discussions
have been initiated with its main financial partners, both in
France and abroad, for the purpose of balancing the servicing of
its debt with the expected gradual market recovery and the
corresponding upturn in the group's performance. Indeed, the group
has not been able to comply with various covenants defined in its
contractual documentation, as at December 31, 2017 and has
requested the consent of its financial partners particularly to
postpone, for the estimated duration of the discussions, the
exercise of their rights under the considered contractual
documentation.
In this context and in order to
ease the discussions with its different financial partners, BOURBON
requests the consent of the general meeting of the Bondholders in
accordance with the applicable provisions of the French Commercial
Code (Code de commerce), to defer by one year the next interest
payment date due under the Bonds for an approximate amount of
€3.867 million due on April 24, 2018 on April 24, 2019, which shall
bear interest from October 24, 2018 (included) to April 24, 2019
(excluded) at the rate corresponding to the applicable rate to the
Bonds.
All the preparatory information
and documents will be made available to the Bondholders at the
registered office of the company located at 148 rue Sainte, 13007
Marseille, and/or at the registered office of the company in charge
of the financial services related to the Bonds, BNP Paribas
Securities Services, Grands Moulins de Pantin, 9, rue du
Débarcadère, 93761 Pantin Cedex or communicated, upon request sent
to CACEIS Corporate Trust - Service Assemblées Générales
Centralisées - 14, rue Rouget de Lisle - 92862 Issy-Les-Moulineaux
Cedex 9 (ct-assemblees@caceis.com, fax: +33(0)1.49.08.05.82 or
+33(0)1.49.08.05.83 and phone: +33(0)1.57.78.32.32).
The convening notice, the report
and the draft resolutions are also available on the website:
http://www.bourbonoffshore.com/en/2018-general-meeting-bondholders.
ABOUT
BOURBON
Among the market
leaders in marine services for offshore oil & gas, BOURBON
offers the most demanding oil & gas companies a wide range of
marine services, both surface and sub-surface, for offshore oil
& gas fields and wind farms. These extensive services rely on a
broad range of the latest-generation vessels and the expertise of
more 8400 skilled employees. Through its 37 operating subsidiaries
the group provides local services as close as possible to customers
and their operations throughout the world, of the highest standards
of service and safety.
BOURBON provides
two operating Activities (Marine Services and Subsea Services) and
also protects the French coastline for the French Navy.
In 2017,
BOURBON's revenues came to € 860.6 million and
the company operated a fleet of 508 vessels.
Placed by ICB
(Industry Classification Benchmark) in the "Oil Services" sector,
BOURBON is listed on the Euronext Paris, Compartment B.
CONTACTS
BOURBON
Media Relations agency
Publicis Consultants
Investor, analyst,
shareholder
relations
Vilizara Lazarova
+33 410 138 607
+33 144 824 634
investor-relations@bourbon-online.com
James.fraser@bourbon-online.comjames.fraser@bourbon-online.com
vilizara.lazarova@consultants.publicis.fr
Corporate
Communications
Christelle Loisel
+33 491 136 732
christelle.loisel@bourbon-online.com
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: BOURBON via Globenewswire