Scandinavian Oil-Gas Magazinehttp://www.scandoil.com/moxie-bm2/news/deed-of-undertaking-concerning-hybrid-capital-secu.shtmlDeed of Undertaking concerning hybrid capital security due 3015Further to DONG Energy’s announcement on 27 October 2015, where DONG Energy communicated that it was looking into possible ways to re-establish the ‘Intermediate’ (50%) equity content of its outstanding
[an error occurred while processing this directive]
Edit page New page Hide edit links Further to DONG Energy’s announcement on 27 October 2015, where DONG Energy communicated that it was looking into possible ways to re-establish the ‘Intermediate’ (50%) equity content of its outstanding EUR 600,000,000 3.0% hybrid capital security due 3015 (ISIN XS1227607402), (the “Capital Securities”) with Standard & Poor’s, DONG Energy has executed a Deed of Undertaking (the “Deed”). In the Deed, DONG Energy irrevocable waives the right to call and redeem the Capital Securities in case of a loss in equity content following a hypothetical downgrade in its senior rating to non-investment grade. The Deed is for the benefit of the Trustee and the holders of the Capital Securities. |