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Ausdrill Advises on Barminco Noteholders Consent to Change of Control Event

11 Oct 2018  |  17:23:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Barminco Noteholders Consent to Change of Control Event

Ausdrill referred to the announcement by Barminco Finance to the Singapore Exchange (SGX). The announcement confirmed that Barminco noteholders have given consent to amend the terms of Barminco's Senior Secured Notes due May 2022 so that the proposed acquisition of Barminco by the Company will not constitute a "change of control" event under those Notes. The consent is conditional on completion of the acquisition and payment by Barminco of a 0.25% consent fee to noteholders. The receipt of this consent satisfies a condition to the Company's proposed acquisition of Barminco.

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