| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2017 > News item |
Ukrainian Railways gets holder OK to amend Shortline’s 9 7/8% notes
By Susanna Moon
Chicago, Dec. 8 – PJSC Ukrainian Railways said it obtained holder approval at a meeting held Friday in London to amend the $500 million of 9 7/8% loan participation notes due 2021 issued by Shortline plc.
The consent solicitation ended at 5 a.m. ET on Dec. 6.
To make the changes, a quorum of two-thirds of the principal amount of the notes needed to be represented at the meeting and three-quarters of the votes cast in favor.
As announced Nov. 27 the company sought to amend the loan agreement relating to the notes in order to: provide for a new carve-out from clauses 15.3(i) (cross acceleration and cross default), 15.8 (enforcement proceedings) and 15.11 (judgments) of the loan agreement in relation to designated local indebtedness, which will apply for an indefinite period; provide for a 1.5-year carve-out from clauses 15.3(i) (cross acceleration and cross default), 15.8 (enforcement proceedings) and 15.11 (judgments) of the loan agreement in respect of the additional local debt; amend the definition of designated local indebtedness to exclude references to any debt that has already been restructured by the borrower as at the date of the memorandum; and waive any defaults, potential events of default or events of default which may have arisen as a result of the circumstances described under “background” in the memorandum.
Holders who delivered consents will receive a fee of $4.00 per $1,000 principal amount of notes.
The information and tabulation agent is D.F. King Ltd. (uz@dfkingltd.com, https://sites.dfkingltd.com/uz, +44 20 7920 9700 or +852 3953 7230).
Ukrainian Railways is based in Kiev and is the country’s state railroad network operator.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.