RCS - DTEK Finance Plc - DTEK ENERGY B.V. RESTRUCTURING EFFECTIVE DATE

Houlihan LokeyAnnouncement

17/05/2021 22:00

RNS Number : 9096Y
  
DTEK Finance Plc
  
17 May 2021
  
 

DTEK ENERGY B.V. RESTRUCTURING 
 
Further to its previous announcement (https://www.londonstockexchange.com/news-article/IRSH/dtek-energy-b-v-restructuring/14978323), the DTEK ENERGY B.V. group (the "Group") hereby announces that the restructuring of substantially all of the Group's indebtedness contemplated by the terms of the inter-conditional schemes of arrangement in respect of DTEK Energy B.V. and DTEK Finance plc under Part 26 of the Companies Act 2006 (the "Schemes") has been completed on 17 May 2021 in accordance with the terms thereof, being the 'Restructuring Effective Date' for the purposes of the scheme document containing the terms of the Schemes.
 
"Despite the loss of assets in Donbass, the systemic crisis in the Ukrainian electricity market and the economic downturn caused by the COVID-19 pandemic, DTEK ENERGY B.V. group has successfully completed the process of restructuring its Eurobonds and its main bank debt in the amount of more than US$2 billion. Following a constructive dialogue with our creditors, we have reached an agreement on new parameters for further issuing Eurobonds," DTEK CEO Maxim Timchenko said. He added, "Our agreement exemplifies the transparent and responsible European approach to investor relations and is also proof that DTEK remains committed to fulfilling its obligations to its partners. We consider this to be fundamental to safeguarding both our commercial reputation and broader confidence in Ukrainian business. I would like to sincerely thank our creditors for their patience and understanding throughout."
 
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For any other enquiries, please contact: 
 
DTEK ENERGY B.V.: Oksana Nersesova (Tel: +380 44 581 4522, NersesovaOE@dtek.com) 
 
Houlihan Lokey, financial adviser to the Group: Gijs de Reuver (Tel: +44 20 7747 2710, GdeReuver@HL.com) or Nicolas Guelfand (Tel: +33 1 53 43 38 08, NGuelfand@HL.com)
 
Latham & Watkins, legal adviser to the Group: Edward Kempson (Tel: +7 495 644 1928, Edward.kempson@lw.com) 
 
Rothschild & Cie, financial adviser to the Bank Lender Ad Hoc Group: Giovanni Salvetti (Tel: +7 495 775 8221, giovanni.salvetti@rothschildandco.com) or Simon Bard (Tel: +33 1 40 74 41 66, simon.bard@rothschildandco.com)
 
Hogan Lovells International LLP, legal adviser to the Bank Lender Ad Hoc Group: Alex Kay (Tel: +44 20 7296 2256, alex.kay@hoganlovells.com)
 
Dechert LLP, legal adviser to the Bondholder Ad Hoc Group: Solomon J. Noh (Tel: +44 20 7184 7337, solomon.noh@dechert.com) or Alastair Goldrein (Tel: +44 20 7184 7456, alastair.goldrein@dechert.com)
 
This press release may include "forward-looking" statements within the meaning of applicable securities laws. Any such statements reflect the current views of the Group about further events and performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections.
 
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