Ornex starts new tender offer for DTEK Renewables’ 8˝% notes

Chicago, Jan. 30 – Ornex Ltd. started a second tender offer for DTEK Renewables Finance BV’s €325 million 8˝% senior notes due 2024 (ISINs: XS2069980246, XS2070013250), according to an announcement.

Ornex currently holds €8.6 million of the notes, acquired through a previous tender offer.

Ornex is offering an aggregate tender consideration of €20 million with the purchase price to be determined via an unmodified Dutch auction.

Bids should be between €1 and €1,000 per each €1,000 principal amount of notes. Accrued interest will also be paid.

Tenders may be prorated.

The purpose of the offer is to enable the group to optimize its capital structure by deleveraging and decreasing its debt burden.

The offer started Jan. 27.

The expiration deadline is 11 a.m. ET on Feb. 10.

Results will be announced on Feb. 13.

The settlement date will be Feb. 24.

Bank of New York Mellon, London Branch (+44 12 0268 9644 or debtrestructuring@bnymellon.com) is the tender agent.

The issuer is a Netherlands-based special purpose entity of the Ukraine-based energy holding company DTEK.

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