Trigon gets holder OK to extend SEK 350 million of 11% bonds to 2017

By Susanna Moon

Chicago, Feb. 26 – Trigon Agri A/S said it obtained bondholder approval to restructure its SEK 350 million of 11% senior bonds, pushing out the maturity until Aug. 31, 2017.

Bondholders representing 51.64% of the outstanding principal amount of notes unanimously approved the proposed amendments, according to a company press release.

The meeting was held on Thursday in Stockholm. The proposal was announced on Feb. 6.

As previously announced, the company sought to extend the maturity date from June 29, 2015 and to elect a committee to represent the holders.

“The company is showing strong operational results and cash flow despite the challenging regional conditions and low soft commodity prices, and now that we are no longer under immediate pressure from the maturing bonds, we will return to implementing our previously announced strategy,” Joakim Helenius, Trigon Agri ghairman of the board, said in the press release.

Copenhagen-based Trigon is an integrated soft commodities producer, storage provider and trader with operations in Ukraine, Russia and Estonia.

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