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StatoilHydro (OSL:STL) THIS PRESS RELEASE IS NOT BEING TRANSMITTED INTO ITALY
Stavanger, Norway - August 11, 2008. StatoilHydro ASA ("StatoilHydro") announced today that it is extending the Expiration Date, as described below, for holders to deliver consents and receive a consent payment in connection with its consent solicitations for the proposed amendments relating to the 9.00% Debentures due 2012, 7.50% Debentures due 2016, 6.70% Debentures due 2018, 7.75% Debentures due 2023, 7.15% Debentures due 2025 and 7.25% Debentures due 2027 issued under the 1992 Indenture (each as defined below), and relating to the 7.25% Debentures due 2027 issued under the 1994 Indenture (as defined below). Subject to satisfaction and/or waiver of all acceptance conditions, StatoilHydro will make consent payments of $1.50 per $1,000 principal amount of such securities to holders of such securities who properly deliver valid and unrevoked consents on or prior to 5:00 p.m. New York City Time on August 15, 2008, unless the Expiration Date of the consent solicitations for these securities is further extended. The consent solicitations for the proposed amendments are being made upon the terms and are subject to the conditions set forth in the consent solicitation statements dated June 10, 2008.
On July 25, 2008, StatoilHydro announced bondholder approval of amendments relating to its 6.36% Notes due 2009, 9.125% Debentures due 2014, 6.80% Debentures due 2028 and 7.15% Debentures due 2029 issued under the 1992 Indenture (each as defined below) and the 9.125% Debentures due 2014 issued under the 1994 Indenture (as defined below) by its wholly-owned subsidiary, StatoilHydro Petroleum AS ("StatoilHydro Petroleum").
The consent solicitations relate to (i) the indenture (the "1992 Indenture") relating to the $300,000,000 6.36% Notes due 2009 (the "6.36% Notes due 2009"), $350,000,000 9.00% Debentures due 2012 (of which $152,853,000 are outstanding) (the "9.00% Debentures due 2012"), $99,522,000 9.125% Debentures due 2014 (the "9.125% Debentures due 2014"), $300,000,000 7.50% Debentures due 2016 (of which $243,825,000 are outstanding) (the "7.50% Debentures due 2016"), $250,000,000 6.70% Debentures due 2018 (the "6.70% Debentures due 2018"), $300,000,000 7.75% Debentures due 2023 (the "7.75% Debentures due 2023"), $250,000,000 7.15% Debentures due 2025 (the "7.15% Debentures due 2025"), $480,512,000 7.25% Debentures due 2027 (the "7.25% Debentures due 2027"), $250,000,000 6.80% Debentures due 2028 (the "6.80% Debentures due 2028"), and $275,000,000 7.15% Debentures due 2029 (the "7.15% Debentures due 2029" and collectively, the "1992 Indenture Securities"); and (ii) the indenture (the "1994 Indenture") relating to the $500,000,000 7.25% Debentures due 2027 (of which $15,588,000 are outstanding) (the "7.25% Debentures due 2027 issued under the 1994 Indenture"), and the $100,000,000 9.125% Debentures due 2014 of StatoilHydro Petroleum (of which $478,000 are outstanding) (the "9.125% Debentures due 2014 issued under the 1994 Indenture", and collectively, the "1994 Indenture Securities").
Merrill Lynch International, Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Limited and UBS Securities LLC are acting as Joint Solicitation Agents. Questions with respect to the terms of the consent solicitations should be directed to Merrill Lynch, Pierce, Fenner & Smith Incorporated at +1 (888) ML4-TNDR (toll-free) and +1 (888) 654-8637, to Merrill Lynch International at +44 (0)20 7995-3715, to UBS Securities LLC at +1 (203) 719-4210 (collect) and +1 (888) 719-4210 (toll free) and to UBS Limited at +44 (0)20 7567-7480.
Global Bondholder Services Corporation ("GBSC") has been retained to act as Information Agent and Tabulation Agent with respect to the consent solicitations. Requests for assistance in completing and delivering the consent letters, related documents, requests for additional copies of such documents and questions relating to the payment of the consent payments should be directed to GBSC at +1 866 387-1500 (toll-free) or +1 212 430-3774 (banks and brokers).
This document does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.
