Ukraine’s DTEK extends consent solicitation for 8˝% notes due 2024

Chicago, Sept. 26 – DTEK Renewables Finance BV extended its consent solicitation for its €325 million 8˝% senior notes due 2024 (ISINs: XS2069980246, XS2070013250), according to a notice.

The solicitation ends on Sept. 28 at 11 a.m. ET, pushed back from the same time on Sept. 26.

The issuer is seeking consents to waive any event of default if sufficient funds are not maintained in the interest reserve account at any time while martial law is in effect in Ukraine.

Further, given the ongoing threats to the group’s assets and operations, pursuant to the consent solicitation, the issuer is requesting the consent of noteholders to waive certain additional events of default that may occur and be existing under the notes.

The company currently intends to make the interest coupon due on Nov. 12.

DTEK ran a similar consent solicitation in April; however, military operations in Ukraine have continued and the challenges and disruptions continue.

The tabulation agent is Bank of New York Mellon, London Branch (debtrestructuring@bnymellon.com, +44 1202 689644).

The consent solicitation started Sept. 15.

DTEK is a Ukraine-based energy holding company.

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