11:42 19.11.2019

DTEK completes bank debt restructuring with extra issue of $100 mln eurobonds

2 min read
DTEK completes bank debt restructuring with extra issue of $100 mln eurobonds

DTEK Energy has announced the completion of bank debt restructuring, including, inter alia, the conversion of part of the debt into eurobonds issued by DTEK Finance PLC (the Netherlands) with a maturity date on December 31, 2024, the company said on the website of the Irish Stock Exchange.

According to the company, the club loan attracted at the end of 2012 was restructured, part of this bank debt was converted into eurobonds in the amount of $100 million.

"The terms of restructuring correspond to those that DTEK Energy offered to all loan holders in 2016: prolonging the maturity term until 2023 and converting part of the bank debt into eurobonds," the company noted.

As the head of the analytical department of Concorde Capital investment company, Oleksandr Paraschiy previously noted in a daily review, the completion of restructuring will contribute to higher prices of eurobonds.

"After completion of the remaining restructuring, DTEK will complete the debt operation, which began in 2015. This will entail a rating upgrade and, therefore, will become a powerful catalyst for the growth of bond prices," the expert said.

As reported, at the end of 2016 the energy holding exchanged the previously issued eurobonds for $750 million maturing on April 4, 2018 and $160 million maturing on April 28, 2018 for a new issue with maturity until December 31, 2024. The terms of the issue of new eurobonds suggest that they will be repaid in two equal parts: 50% in December 2023, and 50% at the expiration of the circulation period.

Загрузка...
Завантаження...
AD
AD
AD
AD
Завантаження...
AD