Agri Resources bondholders approve resolutions on notes due 2026

Chicago, March 18 – Agri Resources Group SA announced that noteholders voted on all of the proposed resolutions the company proposed relating to the notes due 2026 (ISIN: DE000A287088), according to a notice.

A quorum of holders representing half of the notes was required. Noteholders representing €27,205,000 (or 54.41% of the issue) of the €50 million of the notes took part in the vote without a meeting.

The term has been extended until March 17, 2028, with approval by 95.96% of those who voted.

Interest will be retained until repayment, or interest will now be paid in kind, with 95.83% of the votes in favor.

The provisions relating to early redemption were adjusted, and 95.92% of voters approved.

There was an adjustment in the terms and conditions relating to events that trigger an event of default. Voters approved the change by 95.87%.

Other terms and conditions were modified related to certain undertakings of the issuer, approved by 95.88% of voters.

There was a sixth item that was added by supplemental motion by a noteholder which asked for the appointment of a noteholder’s representative. The item had a quorum of 52.65%, but votes were 97.57% against the motion.

Noteholders were asked to vote between March 13 and March 15.

The amendments were announced on Feb. 27.

The company, an international specialist in the sustainable cultivation and processing of agricultural products in Africa and Europe, is based in Luxembourg.

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