Bonitron settles, commences buyback programs for 9% notes due 2025

By Mary Katherine Stinson

Lexington, Ky., Jan. 10 – Bonitron DAC reported completion of the buyback program by Eurotorg LLC for the outstanding 9% loan participation notes due 2025 (ISIN: XS2243344434) up to a maximum amount of $10 million, which began on May 7, 2023 and ended on Dec. 31, according to a June 30 announcement.

Since July 5, $1.7 million principal amount was purchased by Eurotorg and/or on behalf of Eurotorg.

As of Jan. 8, following the repurchases, $83,291,000 million of notes remain outstanding, of which $54,744,000 is held by or on behalf of Eurotag.

The original issue size was $300 million.

Following the announcement, Bonitron reported that Eurotag is beginning another buyback program for up to a maximum of $10 million notes.

The notes are expected to be repurchased by Eurotag and/or by Eurotorg Holding plc between Aug. 1, 2024 and Dec. 31, 2024. The repurchased notes will be cancelled or held in treasury.

Bonitron is a Dublin-based special purpose entity. Eurotorg is a supermarket operator based in Minsk, Belarus.

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