Glitnir Holdco ehf. (the “Issuer”)
EUR 1,585,774,666 (Remaining balance EUR 429,462,724)
Amortising Zero-Coupon Convertible Notes due 2030 (the “Notes”)
This notice is made to holders of the Notes (hereafter, the “Noteholders”) pursuant to Condition 6.3 of the Terms and Conditions of the Notes (the “Conditions”) and is published in accordance with Condition 21. Capitalised terms used but not defined in this notice shall have the meanings given to them in the Conditions.
The Issuer hereby notifies the Noteholders that it will effect an optional redemption by redeeming the Notes (in part) in cash on 19 January 2017. The Issuer is providing the following information pursuant to Condition 6.3(B) in connection with such redemption:
(i) The Currency Conversion Date is 13 January 2017.
(ii) The estimated Euro Equivalent Redemption Funds (EERF) to be distributed is EUR 60,856,000.
The breakdown by currency of the amounts included in the calculation of such estimate are as follows:
EUR 59,740,000 and
(iii) The Euro Equivalent Redemption Funds will derive from realizations of the following assets:
The Indemnity Fund; EUR 59,740,000,
Loans to customers: NOK 10,091,500 of the EERF.
The Issuer will provide a further notification on 17 January 2017 (which will be the Optional Cash Redemption Second Notification Date). This will confirm the final amount of Euro Equivalent
Available Optional Redemption Funds which will be used to redeem the Notes in cash, the aggregate principal amount of the Notes that will be outstanding immediately following the Optional Redemption Date of 19 January 2017 and the other information required under Condition 6.3(C).
Reykjavík, 21 December 2016
On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer