DTEK Renewables Finance BV, part of the DTEK Group, successfully negotiated with investors, and they agreed to extend payments on green Eurobonds for 3 years – from November 2024 to November 2027. The energy holding reported this on its website.
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< p>Despite the difficult situation in the energy sector and currency restrictions, the company took all possible actions to service the debt on Eurobonds to support the investment climate in Ukraine and maintain investor confidence.
“The bondholders also supported the construction project of the second stage of DTEK Tiligulskaya Wind farm at 384 MW, given its critical importance for supporting Ukraine’s energy sector in conditions of electricity shortages and the need for large volumes of new distributed generation capacities,” the message says.
Payments have been postponed for three years
< p>At the beginning of July, DTEK Renewables Finance BV announced that it was seeking the consent of holders of Eurobonds for €325 million at 8.5% with a maturity date of November 12, 2024 to defer such repayment for three years.
The main reason is the consequences Russia's invasion of Ukraine, which resulted in the loss of some assets, market disruptions and the introduction of a moratorium on cross-border payments by the National Bank of Ukraine. The conditions of the offer are the payment of a fee of $10 for every $1000 of the bonds' face value, the possibility of paying interest in cash and/or their capitalization, reducing the minimum bond face value to €1 to facilitate the payment of interest.
- Stock market Energy