PJSC Ukrzaliznytsia on Feb. 17 will convene a meeting of the holders of Eurobonds worth $500 million with an interest rate of 9.5 percent and maturing in 2018 concerning the restructuring of the securities, the issuer reported on the website of the Irish Stock Exchange (ISE).
The quorum required at the meeting will be two or more persons validly present in person representing or holding not less than two-thirds of the aggregate principal amount of the outstanding notes.
In case of no quorum at the meeting on Febю 17, a repeated meeting of the holders of securities will be scheduled for March 3, 2016.
As reported, Ukrzaliznytsia on Decю 9, 2015 reported that during the talks with a group of asset management companies, including ICE Canyon LLC, Portland Worldwide Investments Ltd., Promeritum Investment Management LLP and VR Global Partners, L.P., which created an ad hoc committee, it achieved an agreement regarding the terms of restructuring these eurobonds. As a result the coupon rate will be increased from 9.5 percent to 9.875 percent (will be valid from Nov. 21, 2015), and the maturity date will be extended from May 21, 2018 to Sept. 15, 2021.
