Ozon extends standstill for 1.875% convertible notes three more days

By Mary-Katherine Stinson

Lexington, Ky., Sept. 20 – Ozon Holdings plc announced a further extension to the termination date of its standstill agreements relating to the restructuring of its $750 million 1.875% senior convertible bonds due 2026 issued by the group’s Cypriot holding company.

The termination date is now Sept 23. The termination date was previously extended to Sept. 20 from Sept. 13, after having been originally extended from Aug. 30, according to a Tuesday press release.

The company stated in the press release that it is in the final stage of negotiations on terms of the long-term restructuring of the bonds with several bondholders and expects to reach an agreement within the current financial year.

As previously disclosed and reported, the company entered into a standstill agreement on June 1 to facilitate the restructuring of the bonds with an ad hoc group of bondholders and a substantially similar Russian standstill agreement with some Russian bondholders.

The standstill agreements were each equipped with an extension option, which has now been exercised.

Bondholders interested in receiving more information regarding the standstill agreements or in acceding to the standstill agreements are directed to visit https://ir.ozon.com/restructuring/ or to contact Houlihan Lokey, the financial adviser of the ad hoc group of bondholders, at projectondohl@hl.com or Cleary Gottlieb Steen & Hamilton LLC, the legal adviser of the company, at Team-Olive-CGSHOnly@cgsh.com.

Ozon is a Russian e-commerce and internet company. The holding company is registered in Cyprus.

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