Brief: VK Says Trading Halt On LSE Can Trigger Redemption Right On $400 Mln Convertible Bond

VK

15/03/2022 07:09

March 15 (Reuters) - VK Company  VKCOq.L :
    * COMMENT ON TRADING HALT IN VK GDRS ON LONDON STOCK
EXCHANGE
    * UNDER TERMS OF COMPANY'S USD 400MN BONDS DUE 2025 A
DE-LISTING
EVENT OCCURS IF, AMONG OTHER THINGS, TRADING OF GDRS ON LSE IS
SUSPENDED FOR PERIOD OF 10 CONSECUTIVE DEALING DAYS OR MORE
    * SAYS CUT-OFF DATE FALLING IN ITS CASE ON WEDNESDAY, MARCH
16,
2022 INCLUSIVE
    * SAYS DE-LISTING EVENT WOULD TRIGGER REDEMPTION RIGHTS
    * SAYS IT IS POSSIBLE THAT ISSUER WILL NOT HAVE SUFFICIENT
LIQUIDITY TO FUND PAYMENTS REQUIRED FOR REDEMPTION IF MOST OF
BONDHOLDERS CHOOSE TO EXERCISE THEIR REDEMPTION RIGHT
    * SAYS SHOULD A DE-LISTING EVENT OCCUR, COMPANY WILL
CONTINUE
ACTING IN GOOD FAITH AND ANTICIPATES TO ENGAGE INTO NEGOTIATIONS
WITH BONDHOLDERS
    * SAYS INTENDS TO START NEGOTIATIONS WITH ALL BONDHOLDERS AS
SOON
AS POSSIBLE TO DISCUSS POSSIBLE ALTERNATIVES TO PUT OPTION
EXERCISE

Source text for Eikon:  ID:nEQbrkkjQa 
Further company coverage:  VKCOq.L 

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