DTEK to convert part of bank debt into notes, restructure remainder

By Angela McDaniels

Tacoma, Wash., Nov. 18 – DTEK Energy BV finalized the restructuring of its remaining credit facility, according to a filing with the London Stock Exchange.

The restructuring envisages, among other things, the conversion of part of the debt into notes due Dec. 31, 2024 issued by DTEK Finance plc under a tender offer and the restructuring of the remaining debt.

The DTEK Group operates the largest privately-owned energy company in Ukraine. The Chapter 15 case for its DTEK Finance unit was filed on Dec. 16, 2016 in the U.S. Bankruptcy Court for the Southern District of New York under case number 16-13521.

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