DTEK obtains requisite consents for 8½% senior notes due 2024

Chicago, May 9 – DTEK Renewables Finance BV announced that it obtained the requisite consents regarding its solicitation for its €325 million outstanding 8½% senior notes due 2024 (ISINs: XS2069980246, XS2070013250), according to multiple announcements.

The consent deadline was 11 a.m. ET on May 9.

The effective time has occurred. The issuer intends to proceed to execute the supplemental trust deed shortly, whereupon the amendments will become effective.

Consents were irrevocable and there was no consent fee.

The amendments allow the issuer to fund the next interest coupon under the notes with funds held in the interest reserve account.

Additionally, the company will ensure that sufficient funds are held in the interest reserve account by 11 a.m. ET on Nov. 11, 2022.

The amendments to the notes avoid any event of default if insufficient funds are held in the interest reserve account before Nov. 11.

The issuer also replaces the parent guarantor (DTEK Renewables Ukraine BV) with the ultimate parent (DTEK Renewables BV).

The consent solicitation was being held because of challenges and disruptions related to the Russian military operation in Ukraine.

The information and tabulation agent was GLAS Specialist Services Ltd. (+44 20 3597 2940, dcm@glas.agency).

DTEK is a Ukraine-based energy holding company.

© 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.