New World Resources gets consents to amend two 7 7/8% notes series

By Jennifer Chiou

New York, July 24 – New World Resources NV announced that it received the required consents to amend the indentures of its €500 million of 7 7/8% senior secured notes due 2018 and its €275 million of 7 7/8% senior notes due 2021.

The company needed consents from holders of at least a majority of the notes.

Supplemental indentures have been executed, according to a press release.

As announced early in the month, New World Resources entered into a lock-up and restructuring agreement with certain noteholders.

The supplemental indentures give effect to the amendments stating that any step taken by the company, its directors and its subsidiaries to implement the restructuring shall not be an event of default under the relevant indenture.

The information agent was Lucid Issuer Services Ltd. (44 20 7704 0880 or nwr@lucid-is.com).

New World Resources is an Amsterdam-based central European coal producer with operations in the Czech Republic. It launched the solicitation on July 18.

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