Ukrainian largest private energy holding DTEK has updated the terms of restructuring eurobonds worth $200 million maturing on April 28, 2015.

According to an issuer report on the Irish Stock Exchange website, DTEK, as before, proposes the repayment of 20% of the debt principal and exchanging the remaining sum for new bonds.

However, the circulation period of new eurobonds is shortened to March 2018 from April 2019 and foresees a depreciation repayment mechanism - 50% of the nominal value will be repaid in September 2017.

The coupon rate will remain the same - 10.375% per annum, however interest income payment will be transferred to March and September instead of April and October.

In addition, the premium for the early agreement with securities restructuring was increased to 3% from 2% of the nominal value, as well as the minimum amount of applications for exchange - up to 98% from 85% of the issue, except for the securities bought back by the issuer ($19 million).

If the latter condition is not fulfilled, the issuer intends to resolve the issue of restructuring through court. DTEK has already appealed to the High Court of Justice of England for permission to buy back eurobonds in accordance with the proposed conditions. Court hearing on the matter is scheduled for April 14, 2015.