Ukraine’s Agroton takes in tenders for $10 million 12˝% notes at 30

By Susanna Moon

Chicago, Nov. 3 – Agroton Public Ltd. accepted tenders for $10 million of its $50 million 12˝% loan participation notes due 2019 with interest rate step-down to 6% in 2013.

As announced Oct. 26, Agroton was tendering for the notes at 30% of par, or $60,000 for each $200,000 principal amount, until 11 a.m. ET on Nov. 2.

Interest will be paid for the period from Jan. 14, 2013 and not from July 14, as previously announced, to but excluding the settlement date of Nov. 8, according to a company update.

In addition, $22.1 million principal amount of notes previously purchased by the company also will be canceled.

After settlement, $7.55 million principal amount of the notes will remain outstanding.

The tender agent and tabulation agent is Bank of New York Mellon, London Branch (+44 1202 689644, fax +44 20 7964 2536 or debtrestructuring@bnymellon.com).

Agroton said on July 27 that it was looking to buy back more of the 12˝% notes due 2019 with interest rate step-down to 6% in 2013.

Holders were being asked “to identify themselves in order to facilitate a discussion of the options,” according to a previous company notice.

Agroton is a Luhansk, Ukraine, agricultural production and distribution business.

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