Ukraine's Mriya Agro seeks consents for $71.64 million 10.95% notes

By Toni Weeks

San Luis Obispo, Calif., May 20 - Ukraine's Mriya Agro Holding Public Ltd. announced the launch of a consent solicitation for any and all of its outstanding $71,636,000 of 10.95% notes due 2016. The company is seeking to amend some terms and conditions in the trust deed governing the notes, according to a company notice from the London Stock Exchange.

For each $1,000 principal amount, the company is offering a $5.00 instruction fee for those who deliver voting instructions by 11 a.m. ET on May 31, with settlement for the payment of the fee to occur by June 19.

Holders who deliver voting instructions after the May 31 early instruction deadline but before the expiration deadline, 11 a.m. ET on June 7, will not receive the instruction fee.

The consent solicitation follows the company's $400 million issue of 9.45% notes due 2018 on April 19. Mriya Agro is seeking consents to change the terms and conditions of the 10.95% notes to align them with the covenants and applicable provisions for the 9.45% notes. The company said such changes will allow it to effectively monitor compliance with its obligations to holders of each series of notes.

The consent solicitation is conditioned on holders' approval at a meeting to be held in London at 11 a.m. ET on June 11 to pass the extraordinary resolution.

Goldman Sachs International (44 20 7774 9862 or liabilitymanagement.eu@gs.com) is the solicitation agent.

Lucid Issuer Services Ltd. (44 20 7704 0880; attn: Thomas Choquet/Sunjeeve Patel at mriya@lucid-is.com) is the tabulation and information agent.

Mriya Agro is an agricultural business based in the Ternopil region of Ukraine.

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