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Overview of refinancing possibilities in West Atlantic AB (publ)

2015/11/2

On 2 November 2015 a notice to bondholders’ meeting by way of procedure in writing has been sent to the bondholders in West Atlantic AB (publ) (the “Company”) bond issue with ISIN SE0005133360 (the “Bonds”).

 The Company is currently conducting a strategic overview of the Company’s financing structure and is reviewing a possible refinancing of the Bonds. As a mean of increasing the flexibility of the financing structure, the Company requests that the bondholders agree to amend the terms and conditions of the Bonds to the effect that the Bonds may be redeemed by the Company at any time in exchange for full interest compensation (make-whole provision). Currently, the Bonds are not early redeemable by the Company until after 8 May 2016.

 The Company is contemplating to use capital raised to finance the acquisition of further aircraft and three such acquisitions have been negotiated on with an aggregated price of approximately SEK 150 million. These three aircraft are already contracted with existing clients of the Company.

 As a part of the overview of the Company’s financing structure, also other potential structural changes of the Company are evaluated, which may involve equity transactions.

The Company has retained Pareto Securities as financial advisor and sole book runner in the potential refinancing.

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