Russia’s EuroChem announces results of solicitation for 5½% notes

Chicago, Sept. 8 – EuroChem Finance DAC gave the results of its consent solicitation for its $700 million 5½% guaranteed notes due 2024 (Cusips: 196108050, 196179887) in an announcement.

The notes are guaranteed by EuroChem Group AG and MMC EuroChem JSC.

Both resolutions were passed at the meeting of noteholders held on Sept. 7.

The sanction-based solicitation started on Aug. 16.

The company needed a new trustee, paying agent and account bank when those entities decided to retire.

EuroChem was seeking to replace the trustee, defer interest payments to the maturity date, discharge the issuer and guarantors from covenants and certain events of default and reduce the quorum for passing the written resolution.

A quorum needed 75% of the principal amount of notes and then 75% of the votes at the meeting.

The consent deadline was noon ET on Sept. 5.

The meeting was held on Sept. 7.

i2 Capital Markets Ltd. is the information and tabulation agent (+44 203 633 1212, https://i2capmark.com/event-details/72/ Holder/eurochem-finance-dac).

The fertilizer company is based in Moscow.

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