Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers D > Headlines for DTEK Holdings Ltd. > News item |
Ukraine's DTEK tenders for up to $300 million of 9½% notes due 2015
By Jennifer Chiou
New York, March 13 - DTEK Finance BV announced the start of a cash tender offer and consent solicitation for up to $300 million of its $500 million of 9½% notes due 2015.
The notes are guaranteed by DTEK Holdings BV and DTEK Holdings Ltd.
According to a press release, the offer is meant to refinance and proactively manage DTEK's debt.
The company is seeking consents to amend the note indenture to conform certain covenants and other provisions with those found in the indenture of new dollar-denominated notes DTEK will issue to finance the offer.
For each $1,000 principal amount, the company is offering $1,062.50 to those who tender prior to the early deadline at 5 p.m. ET on March 25. The company is offering a $5.00 per $1,000 principal amount consent fee for those who tender by that time.
The offer will end at 11:59 p.m. ET on April 9.
Those who tender after the early deadline and prior to the offer deadline will receive $1,012.50 per $1,000 principal amount.
Deutsche Bank AG, London Branch (44 207 545 8011 or liability.management@db.com) and J.P. Morgan Securities plc (44 20 7134 2468/3414 or emea_lm@jpmorgan.com) are the dealer managers.
D.F. King & Co., Inc. is the tender agent (44 20 7920 9700, 212 269-5550; dtek@dfking.com).
Questions may also be directed to Alyona Semykina at 38 (044) 581 45 22 or SemykinaAG@dtek.com.
DTEK is an energy holding company based in Donetsk, Ukraine, and owned by SCM Holdings.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.