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Name | Symbol | Market | Type |
---|---|---|---|
Aspire Def.fina | LSE:85VK | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 123.858 | 0 | 01:00:00 |
TIDM85VK
RNS Number : 3839L
Aspire Defence Finance PLC
19 April 2018
Resolution of Potential Event of Default
Aspire Defence Finance plc (the "Company"), the Issuer for Project Allenby/Connaught (the "Project"), wishes to update its Series A and Series B Bondholders further to its various announcements concerning the impact of the compulsory liquidation of Carillion plc ("Carillion") on the Project, and in particular its announcement of 29 January 2018. That announcement advised the occurrence of a potential event of default caused by Carillion's role as guarantor of the liabilities of i) a sub-contractor to Aspire Defence Limited, the special purpose vehicle for the Project, known as Aspire Defence Services ("ADS"), and ii) Aspire Defence Services Limited ("ADSL"), a supplier to ADS.
The Company is pleased to announce KBR, Inc. ("KBR") has issued guarantees of the liabilities of, inter alios, ADS and ADSL in replacement for the Carillion guarantees. The Carillion guarantees have been released.
Accordingly, the potential event of default has been resolved to the mutual satisfaction of the Company and its controlling creditors. The Company remains in compliance with the terms of the financing and project agreements.
By order of the Board,
Angus McColl
Company Secretary
19 April 2018
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGGUPPCUPRGQR
(END) Dow Jones Newswires
April 19, 2018 02:00 ET (06:00 GMT)
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