Agroton seeks one-year reprieve from paying interest on notes due 2019

By Susanna Moon

Chicago, Dec. 18 – Agroton Public Ltd. said it looking to postpone January interest by one year on its $50 million of 12½% notes due 2019 with interest stepdown to 6% in 2013.

A noteholder meeting has been set for at 5 a.m. ET on Jan. 11 in London.

Agroton seeks to postpone interest due Jan. 14 by one year to Jan. 14, 2017 and will ask holders at the meeting to approve a waiver for events of default and breaches under the note terms, according to a company press release.

To form a quorum, there must be two or more persons representing more than half of the outstanding notes. To pass, the measure must be approved by holders of at least half of the notes represented at the meeting.

The Bank of New York Mellon, London Branch (+44 1202 689644, fax +44 20 7964 2536 or debtrestructuring@bnymellon.com) is the tabulation agent. For the paying agent, fax +44 0 20 7964 2536 or email CORPSOVCEE@bnymellon.com.

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

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