MRG Finance will host adjourned meeting for extraordinary resolution

Chicago, Oct. 11 – MRG Finance UK plc is adjourning its meeting until Oct. 25 for noteholders to consider an extraordinary resolution relating to the company’s €50 million 8¾% notes due Oct. 26 (ISIN: XS1897122278), according to a notice.

The new meeting will be held by videoconference.

The first meeting, scheduled for Oct. 11, was adjourned for lack of a quorum.

The company is seeking noteholder support to extend the maturity date by three years, to Oct. 26, 2026.

MRG also wants to move to in-kind payments for interest.

The issuer would be able, if the extraordinary resolution is adopted, to redeem the notes at any point after the original maturity date at the nominal amount plus any increased amount through the capitalization of accrued interest.

Should the issuer redeem the notes early, there would be no make-whole premium.

Eligible attendees should contact the issuing and paying agent at least 48 hours before the adjourned meeting.

At least two noteholders need to be present and represent at least 25% of the principal amount of notes outstanding for the meeting to be quorate. For the extraordinary resolution to pass, at least 75% of the votes cast must be in favor.

Proxies or representatives may represent the noteholders.

Elavon Financial Securities DAC is the registrar and transfer agent.

The notes are guaranteed by Monaco Resources Group SAM (now known as Sonel Investments SAM).

Notice of the original meeting was given on Sept. 19.

The guarantor is a global organization that specializes in infrastructure and sustainable commodities.

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