Nobina tries exchange to avoid second default

Nobina, the Swedish company that operates bus services in several Nordic countries, is waiting for one noteholder to consent to an exchange offer for its bonds maturing in less than four weeks’ time.

  • 06 Jul 2012

The company has about €85m of 9.125% bonds that are due to mature on August 1.

Nobina wants investors to exchange them for Skr860m (€97m) of new notes due December 31, 2014, which they would buy at a price of 87.50. This equals about €85m — the volume outstanding ...

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