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Prospect News home > News index > List of issuers J > Headlines for JSC Kombinat KMAruda, LLC > News item |
Koks gets needed consents to amend loan participation notes due 2025
By Devika Patel
Knoxville, Tenn., June 21 – PJSC Koks said holders of more than 75% of its $350 million 5.9% loan participation notes due 2025 (ISIN: XS2232013263, US44970CAA53) issued by IMH Capital DAC gave their consents by 11 a.m. ET on June 16, the consent deadline, to proposals to be approved by a written resolution, which has now become effective.
The notes were issued for the purpose of extending a loan to Koks and are guaranteed by JSC Kombinat KMARuda, LLC, Tikhova Mine, LLC and JSC Tulachermet.
Koks sought to amend the trust deed dated Sept. 23, 2020 so that it can carry out a sale of its participatory interests in Tikhova. The transaction is expected to be completed by September. The company intends to apply proceeds toward repayment of debt.
Also, the company wanted noteholders to waive any breaches or defaults that may occur in connection with the transaction or release of Tikhova as guarantor.
Holders of record as of June 9 were eligible to participate.
i2 Capital Markets Ltd. (pjsckoks@i2capmark.com; +44 20 3633 1212; https://i2capmark.com/event-details/77/Holder/psjc-koks) is the tabulation agent.
Koks is a Russian coke producer.
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