Brief: Work Service Signs Conditional Restructuring Agreement With Institutional Bondholders

Gi Poland SA

07/12/2018 08:47

Dec 7 (Reuters) - WORK SERVICE SA  WSEP.WA :
    * SAYS HAS SIGNED RESTRUCTURING AGREEMENT WITH INSTITUTIONAL BONDHOLDERS OF
SERIES
T, W AND Y BONDS
    * SUBJECT TO SOME CONDITIONS, PARTIES HAVE PLEDGED TO SIGN DOCUMENTS
FINALIZING
BOND RESTRUCTURING OR REFINANCING PROCESS 
    * PLANS TO COMPLETE THE PROCESS BY DEC. 10
    * THE MOST IMPORTANT CONDITION IS PARTIAL REFINANCING OF SERIES Y BONDS IN
AN
AMOUNT OF AT LEAST 7 MILLION ZLOTYS PLUS INTEREST
    * THE COMPANY PLANS TO REFINANCE BONDS THROUGH A NEW BOND ISSUE, SHB, UNDER
WHICH
IT WANTS TO OBTAIN NEW FUNDS IN AMOUNT OF 7 MILLION ZLOTYS 
    * UNDER THE AGREEMENT, CO, AMONG OTHERS, WOULD PAY OFF INTEREST ON BONDS,
REFINANCE SERIES T BONDS AND CHANGE CONDITIONS OF SERIES W BONDS 

Source text for Eikon:  ID:nEM84h4pfa 
Further company coverage:  WSEP.WA 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))