Ukraine's Mriya Agro holders of $71.64 million 10.95% notes OK changes

By Toni Weeks

San Luis Obispo, Calif., June 11 - Ukraine's Mriya Agro Holding Public Ltd. said that the holders of its outstanding $71,636,000 of 10.95% notes due 2016 approved at a meeting on June 11 the proposal to amend some terms and conditions in the trust deed governing the notes, according to a company notice from the London Stock Exchange.

The company launched a consent solicitation for any and all of the notes on May 20. As previously noted, the solicitation followed the company's $400 million issue of 9.45% notes due 2018 on April 19. Mriya Agro was 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.

For each $1,000 principal amount, the company offered a $5.00 instruction fee for those who deliver voting instructions by 11 a.m. ET on May 31.

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

The consent solicitation was conditioned on holders' approval at the June 11 meeting in London to pass the extraordinary resolution.

According to the notice, the supplemental trust deed incorporating the approved changes will be executed on or about June 12, and the amendments will become effective upon payment of the instruction fee on June 19.

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

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

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

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