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Prospect News home > News index > List of issuers Tenders > Headlines for 2022 > News item
Published on 11/7/2022 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

GeoProMining’s Karlou seeks consents to replace trustee for 7¾% notes

By Marisa Wong

Los Angeles, Nov. 7 – GeoProMining Investment (CYP) Ltd. subsidiary Karlou BV announced a consent solicitation for its outstanding $300 million 7¾% guaranteed notes due 2024 (ISIN: XS2008618501).

The original trustee for the notes notified the issuer on July 20 of its retirement as trustee for the notes. As a result, the issuer is seeking noteholder consent to appoint a new trustee.

Only holders of record as of Nov. 11 may participate in the consent solicitation.

The consent deadline is noon ET on Nov. 17.

Approval of the proposal requires consents from holders of at least 75% in principal amount of the outstanding notes.

The information and tabulation agent is i2 Capital Markets Ltd. (+44 20 3633 1212; https://www.i2capmark.com/event-details/82/Holder/karlou-bv).

GeoProMining is a metals and mining group operating in Armenia, Georgia and Russia.


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