Bondholders accelerate bonds and replace board members for Jøtul AS, seeking stability and financial solutions

From GlobeNewswire: 2025-01-30 05:30:00

Jøtul AS has failed to pay interest on its outstanding senior secured bonds, prompting Nordic Trustee to replace certain board members and accelerate the Bonds. An ad-hoc group of bondholders aims to improve corporate governance during the balance sheet resolution process. The group also proposed a forbearance agreement to provide stability for the Company’s business while addressing financial issues. Both parties are working to minimize operational disruptions and are considering potential liquidity financing if necessary. Jøtul AS remains positive about its brand, business, and management, seeking a prosperous path forward with stakeholders. Contact CEO Asbjørn Eskild or Chairman Bjarte Bøe for more information.



Read more at GlobeNewswire: Bondholders accelerate senior secured floating bonds and