Metalcorp updates on restructuring, recapitalization of company

Chicago, Oct. 2 – Metalcorp Group BV provided an update regarding the consensual restructuring and recapitalization of the company in a notice that was aimed at holders of the company’s €69,885,000 8˝% notes due 2023 (ISIN: DE000A19MDV0).

The company confirmed that the Sept. 30 interest payment is being paid in kind.

Further, holders are still expected to be able to exchange their notes into acquisition rights for one new bond issued by a subsidiary of Ferralum Metals SA against payment of an issue amount, or one new bond of Ferralum and two new bonds of a subsidiary of Metalcorp Group SA without payment of an issue amount.

The final restructuring concept by holders of the €300 million of notes due in 2026 (ISIN: DE000A3KRAP3) has not yet been approved.

Negotiations are ongoing, but approval is expected from holders of the notes due 2026.

Amsterdam-based Metalcorp is a service provider in the metals and minerals industry.

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