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Avangard upon maturity of $200 mln eurobonds announces continuation of talks on restructuring

October 30, 2018 | Интерфакс-Украина

Avangard upon the maturity of eurobonds for $200 million on October 29 has announced the continuation of negotiations with the holders of securities.

According to a report on the website of the London Stock Exchange (LSE), the issuer intends to include in the restructuring process income for the last coupon period due on October 29.

Details of the negotiations are not specified.

As reported, at the end of March 2017 Avangard together with its parent holding Ukrlandfarming reported on holding negotiations with the creditors' committee on the restructuring of its Eurobonds for $200 million maturing on October 29, 2018 and $500 million maturing on March 26, 2018. In this connection, Ukrlandfarming abstained from paying interest accrued on March 27, September 26, 2017 and March 26, 2018, while Avangard on May 2, October 30, 2017, May 2 and October 29, 2018.

Avangard also announced that the committee of creditors represents the owners of about 40% of Ukrlandfarming's eurobonds and 50% of Avangard's eurobonds.

The rate on Avangard eurobonds is 10% per annum, and 10.875% on Ukrlandfarming equities, while the coupon is paid semi-annually.

Issue: Avangard Agroholding, 10.0% 29oct2018, USD

StatusDefaultCountry of riskRedemption (offer)VolumeIssue Rating (M/S&P/F)
redeemedYesUkraine10/29/2018213,725,000 USD-/-/Withdrawn

Company: Avangard Agroholding

Full company nameAgroholding Avangard PJSC
Country of riskUkraine
Country of registrationUkraine
IndustryAgriculture

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