DTEK offers to buy 7%/7½% PIK notes due 2027 for up to $30 million

By Marisa Wong

Los Angeles, March 7 – DTEK Holdings Ltd. announced an invitation to holders of the 7%/7½% senior secured PIK toggle notes due 2027 (ISIN: XS2342930521), originally issued by DTEK Finance plc with DTEK Energy BV as successor issuer, to tender their notes for purchase for cash.

The company is offering to accept notes for purchase up to a maximum aggregate purchase price of $30 million. The company said it may choose to increase the offer cap.

There is $1,506,874,012 principal amount of the notes outstanding, $79,508,689 of which is held by the offeror.

Pricing will be determined under an unmodified Dutch auction. The minimum purchase price is $0 per $1,000 principal amount.

The company will also pay accrued interest.

Tenders may be subject to proration.

The offer began on March 6 and will expire at noon ET on March 20.

Results will be announced on March 21.

Settlement is expected to occur on April 11.

GLAS Specialist Services Ltd. (+44 20 3597 2940; attn.: DCM Liability Management - DTEK Tender; lm@glas.agency) is the tender agent.

DTEK is an energy company based in Kyiv, Ukraine.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.