DTEK amends tender offer, consent bid for PIK toggle notes due 2027

By Marisa Wong

Los Angeles, Sept. 25 – DTEK Holdings Ltd. and DTEK Energy BV amended and restated a Sept. 12 tender offer and consent solicitation relating to 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, according to a Monday press release.

DTEK Holdings and DTEK Energy have extended the deadlines for submissions of the instructions and other relevant dates; decided not to decrease the maximum acceptance amount and have provided for a form of instruction to permit holders to revoke their consents to the extent their tender offers are not accepted; increased the consent consideration to 1%; and made some revisions to the proposed amendments.

The new expiration deadline is noon ET on Oct. 2.

All tender instructions and consent only instructions submitted prior to Sept. 25, the date of the updated tender offer and consent solicitation memorandum, will be deemed revoked as of Sept. 25. Noteholders must resubmit their tender instructions and consent only instructions at or prior to the new expiration deadline in order to participate in the tender offer or consent solicitation.

The tender and tabulation agent is GLAS Specialist Services Ltd. (+44 20 3597 2940; lm@glas.agency).

DTEK is an energy company based in Kyiv, Ukraine.

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