TransRegionalCapital seeks to treat 10% note due 2020 as tier 1

By Rebecca Melvin

New York, May 27 – TransRegionalCapital DAC announced that it has invited holders of its $100 million 10% loan participation note due 2020 (ISIN: XS0311369978) to agree to amend the note to make it eligible for tier 1 capital treatment, according to a company notice.

The consent solicitation has an early instruction date of 11 a.m. on June 9, whereby holders are paid a fee of $3 per $1,000 bond for instruction approving the change. And there is a late consent fee of $1 per $1,000 bond for consents received by 11 a.m. ET on June 17 approving the change. The consent solicitation expires on June 17.

Deutsche Bank AG London Branch is the principal paying agent for the consent solicitation, and Morrow Sodali Ltd. (+44 20 7355 0628) is the tabulation agent.

The provider of long-term general and industrial credit is based in Ireland and conducts financing for Russia’s Transkapital Bank.

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