DTEK's minimum acceptation condition for restructuring notes worth $200 mln not satisfied

18:22, 23.04.2015 1 min read

The largest Ukrainian private energy holding DTEK as of April 22, 2015, it had received exchange instructions (including consents to the proposed amendments) from the holders representing 91.14% of the outstanding principal amount of the existing notes of $200 million (excluding the existing notes held by the issuer and its affiliates) due on April 28, 2015, and, as a result, the minimum acceptance condition has not been satisfied.

The minimum acceptation condition was set at 98% of the issue.