DTEK Energy will buy back $32.5 mln worth of eurobonds at 24% of price or less

09:41, 04.11.2022 1 min read

DTEK Finance plc (a subsidiary of DTEK Energy) will buy back eurobonds worth $32.507 million at a price of 24% of par or less based on the results of the auction.

According to DTEK Finance's report on the Irish Stock Exchange, settlement of the offer will take place on November 10, 2022. After redemption of the offer, the total nominal amount of bonds in circulation will be $1.517 billion.

As reported, on May 17, 2021, DTEK Energy completed the process of restructuring the loan portfolio, which provides for the conversion of the current issue of eurobonds and the principal amount of bank debt in excess of $2 billion into new eurobonds.

According to the terms of the restructuring, part of the current debt on DTEK Energy eurobonds was converted into eurobonds of DTEK Oil & Gas in the amount of $425 million with a rate of 6.75% per annum and a maturity date of December 31, 2026.

The rest of the debt was converted into new eurobonds of DTEK Energy for a total amount of $1.645 million with a rate of 7% and maturity on December 31, 2027.