DTEK Renewables extends redemption of eurobonds by two days

18:19, 13.02.2023 1 min read

Ornex Limited (Cyprus), a 100% subsidiary of DTEK Renewables, has extended by two days the redemption of the parent company's eurobonds maturing in 2024 for a total amount of up to EUR20 million.

The tender deadline is now Tuesday, February 14 instead of Friday, February 10, according to a company announcement on the stock exchange.

It is specified that the announcement of the results of the tender is expected on February 16.

"The purpose of the proposal is to provide the group (DTEK Renewables) with the opportunity to optimize its capital structure by reducing the share of borrowed funds and the debt burden," the company said earlier.

As reported, Ornex Limited made the previous similar announcement on November 22 last year and, following the results of the tender, bought back bonds for only EUR2.583 million at 30% of the face value, or a total nominal value of EUR8.6 million, with a total issue volume of EUR325 million.