Idex Energies postpones meeting to ease covenant for 5% bonds

New York, July 6 – Idex Energies announced that it has postponed a meeting at which it planned to ask holders of its €57 million of 5% bonds due Dec. 29, 2020 guaranteed by Idex SAS to relax the securities’ leverage covenant starting in October.

The meeting had been scheduled for 4 a.m. ET on July 10.

Idex did not announce a new date.

Under the proposed amendment, the required gearing ratio would have been less than 1.1 times beginning on Oct. 1, 2015 instead of less than 0.8 times.

Idex would have needed votes from holders of a majority of the notes and a quorum at the meeting for the changes to pass.

Idex is a provider of energy and environmental services based in Boulogne-Billancourt, France.

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