Haya Holdco 2 announces effectiveness of restructuring

By Wendy Van Sickle

Columbus, Ohio, Sept. 6 – Haya Holdco 2 plc announced that its previously announced restructuring took effect on Sept. 6, according to a company notice.

As previously reported, the company was to implement the restructuring via an English scheme of arrangement whereby more than half of the noteholders had to be represented in a vote with more than three-quarters of those present voting in favor to support the restructuring.

If noteholders representing more than 90% of the notes become consenting noteholders, the restructuring could be implemented using a contractual amendment process consistent with the terms of the notes indenture.

In May, Haya announced it signed a lock-up agreement with an ad hoc committee of noteholders and other holders to support the sale of all of Haya’s share capital to Intrum Spain.

The lock-up agreement pertained to the floating-rate senior secured notes due 2025 (ISINs: XS2485628890, XS2485856178).

The noteholders approved the scheme of arrangement on Aug. 22.

The real estate company is based in Madrid.

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