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Russia’s DME Airport adjourns meeting to amend 6% notes
New York, Feb. 17 – DME Airport DAC, formerly DME Airport Ltd., adjourned a meeting to consider amendments to its $221,484,000 of outstanding 6% loan participation notes due 2018.
The meeting was held on Feb. 17 at 5 a.m. ET in London but did not achieve a quorum.
A new date and time will be announced, according to a notice from the issuer.
As announced on Jan. 26, DME Airport was asking for approval to amend the notes in order to implement the appointment of new agents and trustee after receiving notices of resignation and retirement.
The issuer is also seeking to amend the definition of leverage ratio to allow for consistency with its most recent loan participation notes issue, the release noted.
The consent solicitation will remain open until 5 a.m. ET on Feb. 15.
DME is proposing the new trustee will be BNY Mellon Corporate Trustee Services Ltd., Bank of New York Mellon, London Branch and Bank of New York Mellon (Luxembourg) SA.
The appointments replace Deutsche Trustee Co. Ltd., Deutsche Bank AG, London Branch and Deutsche Bank Luxembourg SA.
To form a quorum, there must be one or more persons representing a majority of the outstanding notes. For the measure to pass, the amendments must be approved by 75% of the outstanding notes represented at the meeting.
Deutsche Bank AG, London Branch (+44 20 7547 5000, TSS-GDS.EUR@db.com or xchange.offer@db.com) is the tabulation agent and principal paying agent.
Deutsche Bank Luxembourg SA (Lux.Registrar@db.com) is the registrar.
DME is based in Dublin and operates as a subsidiary of DME Ltd., which manages, operates and develops Domodedovo airport in Moscow.
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