The Norwegian Board of Directors will, through a number of measures, strengthen the company’s balance sheet and fulfill the Norwegian authorities’ terms in Trades Two and Three of the Government’s loan guarantee scheme.
The Board of Directors proposes that debt be converted to equity by entering into agreements with, among other things, bondholders, lenders, leasing companies and suppliers.
The proposals include:
- Parts of the debt of leasing companies, banks and other creditors are sought to be converted into shares in Norwegian.
- Use of other financial instruments to convert other relevant debt to equity or other equity instruments.
- All or part