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Avangard agroholding attracts UBS as organizer of $200 mln eurobond restructuring

September 25, 2015 | Interfax-Ukraine

Avangard agroholding, the largest egg producer in Ukraine, has attracted UBS international investment bank as the sole solicitation agent to organize the restructuring of the company's eurobonds worth $200 million, the company said on the website of the London Stock Exchange (LSE).

As reported, on September 17, Avangard agroholding asked the holders of its eurobonds worth $200 million due on October 29, 2015 to give their consent to restructure them for three years.

The conditions of restructuring state that the 10% six-month coupon will be retained, but its larger part will be paid using the payment-in-kind scheme. The first coupon on October 29 will be paid in cash by 40% ($4 million), in 2016 – 25% of the coupon, and in 2017 – 50% of the coupon. The first coupon of 2018 will be paid in cash by 75%, and the last – 100% of cash.

In September the company held talks with bondholders and some of them who hold 36% of the bonds gave their consent to the proposed conditions of the debt restructuring.

Avangard is a vertically integrated holding company, specializing in the production of eggs and egg goods. It is the largest player in the Ukrainian egg market.

Company: Avangard Agroholding

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

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