Russia’s Koks starts solicitation for 5.9% loan participation notes due 2025

Chicago, Dec. 12 – PJSC Koks announced a consent solicitation relating to the $350 million outstanding 5.9% loan participation notes due 2025 (ISIN: XS2232013263, US44970CAA53) issued by IMH Capital DAC for the purpose of extending a loan to the company, according to a notice.

The company previously solicited consents and amended the notes on Oct. 26.

The company is now seeking explicit permission for additional payment options.

The company would also like to extend the grace period under the loan agreement to 90 calendar days.

Additionally, the company would like to simplify the process of canceling notes acquired by the borrower, any guarantor or their respective subsidiaries.

Noteholders are also invited to waive any breaches of default during the year ending Dec. 31.

If noteholders representing 75% of the notes provide consent via written resolution, the trust deed would be amended.

Noteholders should participate by delivering a written resolution to i2 Capital Markets by 11 a.m. ET on Dec. 20.

The record date is Dec. 16.

The information and tabulation agent is i2 Capital Markets Ltd. (+44 203 633 1212, pjsckoks@i2capmark.com, https://i2capmark.com/event-details/77/Holder/psjc-koks).

Koks Finance is a subsidiary of Koks Group, a Russian coke and pig iron producer.

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