Agroton buys back $10.35 million of notes due 2019 at 30 in offer

By Susanna Moon

Chicago, Nov. 5 – Agroton Public Ltd. said it accepted for purchase $10.35 million of its 12½% notes due 2019 with interest rate step-down to 6% in 2013.

The tender offer ended at 11 a.m. ET on Nov. 4.

In addition, $22.1 million principal amount of the notes previously purchased by the company also will be canceled, according to a company notice.

After settlement on Nov. 10, there will be $17.55 million principal amount of the notes left outstanding.

As previously announced, the purchase price for notes tendered in the offer is 30% of par, or $60,000 per $200,000 minimum denomination, plus accrued interest to but excluding the date after the offer ended.

Agroton said on Oct. 28 that was tendering for up to $15 million of its $50 million notes but that it reserved the right to purchase less than or more than that.

The offer was conditioned on the company raising enough funding for the offer.

The tender agent and tabulation agent is Bank of New York Mellon, London Branch (+44 1202 689644, fax +44 20 7964 2536, debt restructuring services, or debtrestructuring@bnymellon.com).

Agroton is a Luhansk, Ukraine, agricultural production and distribution business.

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