Tror ikke NAS ser lysere fremtid før i 2019-2020… Dette blir året hvor alle investeringene de har gjort skal begynne å blomstre og er redd det kan ta tid, tøff konkurranse i flybransjen også… får se hvordan satsingen i Argentina og diverse langdistanser blir
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Brøt ut av kilen på oppsiden i går, men ikke noe volum å skrive hjem om
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Inne med en lite Nas trade, 181
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Liker ikke å fly, men ble for fristende. Så gikk inn mot slutten av dagen i går. Øker litt etterhvert her og ser an.
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Kjosern trenger pæng!
In the US, only for distribution to Qualified Institutional Buyers (“QIBs”). Please confer other important offering restrictions listed in the investor material.
We hereby invite you to participate in the private placement of shares in Norwegian Air Shuttle ASA (ticker OSE: NAS)
Please find enclosed;
Investment Highlights
• 3rd largest low cost airline in Europe with strong growth
• First mover advantage in European low cost long haul
• Young fleet with low operational cost, reducing unit cost
• Order book with 210+ aircraft on order, plus options
• Raising new equity to ensure comfortable buffer to covenants
Transaction Summary
• Issuer: Norwegian Air Shuttle ASA (the “Company”) / ISIN NO 0010196140
• Listing: Oslo Børs (ticker code: NAS)
• Shares outstanding: 35,759,639 shares, each with a par value of NOK 0.10.
• Transaction structure and size: Private placement of up to NOK 1,300 million by issuing new ordinary shares in the Company (the “Private Placement”), consisting of one tranche with up to 2,950,963 new shares (“Tranche 1”) and a second tranche with the number of new shares that corresponds to a total transaction size (both tranches) of NOK 1,300 million (“Tranche 2”).
• Pricing: To be determined through an accelerated book-building process.
• Use of proceeds: The net proceeds from the Private Placement will strengthen the Company’s balance sheet and ensure substantial buffer to the Company’s bond covenant of NOK 1,500 million in equity requirement, and will otherwise, be used for general corporate purposes.
• Minimum order/allocation: The NOK equivalent of EUR 100,000
• Pre-commitment: HBK Holding AS, the Company’s largest shareholder, currently owning directly and indirectly approximately 26.4% of the current share capital, has pre-subscribed for its pro rata portion of the Private Placement. In addition, the Private Placement has obtained significant support from the existing shareholder base.
• Allocation criteria: The allocation of new shares in the Private Placement will be made at the sole discretion of the Company’s Board. The Board will focus on criteria such as (but not limited to), timeliness of the application, price leadership, relative order size, sector knowledge, perceived investor quality, investment horizon and existing shareholding in the Company.
• Conditions: The completion of Tranche 1 is subject to approval by the Board pursuant to an authorisation given by the Company’s annual general meeting held on 9 May 2017. The completion of Tranche 2 is subject to the approval by the EGM to be summoned shortly after conditional allocation in the Private Placement has occurred. Existing shareholders being allocated shares in the Private Placement undertake to vote in favour of the approval of issuance of shares in Tranche 2 at the EGM. Further to this, the completion of each of Tranche 1 and Tranche 2 is conditional upon the new shares of the relevant tranche in the Private Placement having been fully paid and legally issued. Completion of Tranche 1 is not conditional upon completion of Tranche 2, and acquisition of shares in Tranche 1 will remain final and binding and cannot be revoked or terminated by the respective applicants if Tranche 2 is not completed. The Board reserves the right to cancel the Private Placement at any time and for any reason prior to delivery of the new shares.
• Joint Bookrunners: Arctic Securities AS, Carnegie AS and Pareto Securities AS
• Investor Documentation: Term sheet, application agreement and investor presentation
Timing:
• Bookbuilding period: From 20 March 2018 at 16.30 CET – 21 March 2018 at 08:00 CET
• The Company, together with the Managers, reserves the right to at any time and in its sole discretion resolve to close or to extend the application period or to cancel the Private Placement in its entirety.
• Allocation: On or about 21 March 2018.
• Settlement – Tranche 1: On or about 23 March 2018 (DVP, t+2).
• Settlement – Tranche 2: Shortly after the EGM (please see Term Sheet for details)
Please note that this only represents a summary of the transaction details. More detailed information is included in the placing announcement including the Term Sheet and Application Agreement attached hereto.
Please note that the above information is not specifically assessed against the individual customer relationship, and therefore does not constitute investment advice.
Investments in securities are associated with certain risk, and we kindly advise you to update yourself on the risk factors other specific detail related to the investment.
IMPORTANT NOTICE:
ONLY REGISTERED CLIENTS OF PARETO SECURITIES MAY PARTICIPATE IN THE PRIVATE PLACEMENT.
Subscribers who are not registered as clients of Pareto Securities must establish a client relationship when submitting an application. In order to be registered as a client, please complete the attached client agreement and return the agreement with attachments to [email protected] or by fax to fax number: +47 51 83 63 51.
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Har hørt at boken er dekket allerede
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Da vet du mer enn meg. Men jeg mistenker det er noen shortere som har tegnet seg.
For å dekke inn shorten…?
For eks. Nå får jo Norwegian inn cash som de trenger for å dekke låneforpliktelsene.
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hva tenker man om kursen da? Er man nede på 150 her?
Sikkert ikke så langt unna, tipper under 160
Ser ut som den closer på 155.
Ferdig tegna?
Glad nesa funket for en gangs skyld og jeg gikk ut med 90% på 172 midt på dagen.
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Hoppa ut før helga her! =)
Tror jeg gir opp dette surreselskapet - er jo bare rot og lureri.
Samme her, flaks! Synes det så skummelt ut med mulig brudd ned… Skal se an utviklingen litt før jeg går inn igjen.
Emisjonen kan jo være et godt utgangspunkt for ny inngang.
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If you want to become a millionaire, start out as a billionaire and fund an airline.
emmisjonen er på 1,3milliarder. de tapte 2,6milliarder i forrige kvartal…
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