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StatoilHydro (NYSE:STO) CONSENT SOLICITATIONS FOR CERTAIN OTHER OUTSTANDING DEBT SECURITIES ARE PROCEEDING
THIS PRESS RELEASE IS NOT BEING TRANSMITTED INTO ITALY
Stavanger, Norway - June 30, 2008. StatoilHydro ASA ("StatoilHydro") announced today that it is terminating its consent solicitations and not accepting any consent instructions from holders of its Agency Agreement Securities and Fiscal and Paying Agency Agreement Securities (each as defined below) relating to proposed amendments to certain of its outstanding debt securities previously announced on June 10, 2008, and is cancelling the meetings of the holders of its Agency Agreement Securities and Fiscal and Paying Agency Agreement Securities, which were to be held on July 2, 2008.
In accordance with the terms and conditions of the consent solicitations, any consent instructions given with respect to any series of the Agency Agreement Securities and the Fiscal and Paying Agency Agreement Securities will be voided, and no consent payments will be paid to holders of any of these securities in accordance with the terms and conditions set forth in the respective consent solicitation statements dated June 10, 2008.
The consent solicitations for the 1992 Indenture Securities, the 1994 Indenture Securities and the European Securities (each as defined below) are proceeding in accordance with the terms and conditions described in the respective consent solicitation statements dated June 10, 2008. The expiration date for the consent solicitation for the European Securities was June 27, 2008, and the meeting of the holders of the European Securities is scheduled to be held on July 2, 2008. The expiration date for the consent solicitations for the 1992 Indenture Securities and the 1994 Indenture Securities is July 2, 2008, unless the consent solicitations for these securities are extended by StatoilHydro.
The consent solicitations referred to above relate to (i) the indenture (the "1992 Indenture") relating to its $300,000,000 6.36% Notes due 2009, $350,000,000 9.00% Debentures due 2012 (of which $152,853,000 are outstanding), $99,522,000 9.125% Debentures due 2014, $300,000,000 7.50% Debentures due 2016 (of which $243,825,000 are outstanding), $250,000,000 6.70% Debentures due 2018, $300,000,000 7.75% Debentures due 2023, $250,000,000 7.15% Debentures due 2025, $480,512,000 7.25% Debentures due 2027, $250,000,000 6.80% Debentures due 2028, and $275,000,000 7.15% Debentures due 2029 (collectively, the "1992 Indenture Securities"); (ii) the indenture (the "1994 Indenture") relating to its $500,000,000 7.25% Debentures due 2027 (of which $15,588,000 are outstanding), and the $100,000,000 9.125% Debentures due 2014 of StatoilHydro Petroleum (of which $478,000 are outstanding) (the "1994 Indenture Securities"); (iii) the Trust Deed (the "Trust Deed") relating to its £225,000,000 6.50% Notes due 2021 (of which £1,020,000 are outstanding, the "Sterling Notes") and €400,000,000 6.25% Notes due 2010 (of which €300,000,000 are outstanding, the "Euro Notes", and together with the Sterling Notes, the "European Securities"); (iv) the Fiscal and Paying Agency Agreements (the "Fiscal and Paying Agency Agreements") relating to its $500,000,000 5.125% Notes due 2014, $250,000,000 7.375% Debentures due 2016 (of which $153,000,000 are outstanding) and $500,000,000 6.50% Debentures due 2028 (collectively, the "Fiscal and Paying Agency Agreement Securities"); and (v) the Agency Agreement relating to its $250,000,000 77/8 per cent. Notes due 2022 and $100,000,000 6¿ per cent. Notes due 2023 (of which $80,000,000 are outstanding) (the "Agency Agreement 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 solicitation 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 solicitation. Requests for assistance in completing and delivering the Consent Solicitation Statements, 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.
