FESCO Rouble Bonds Holders offered an amendment to the terms and conditions of the Ruble Bonds circulation
82% voted «For» the offer; the votes were cast by the persons entitled to participate in the bond holders’ meeting. Thus, the amendments to the terms and conditions was accepted by majority of bond holders with account of 75% votes benchmark.
«We have worked a lot actively discussing with bond holders the terms of amendments. We are glad that together we have found an option acceptable for everyone, and we are grateful to the bond holders for their support. Working with debt instruments we are always aimed at meeting our liabilities. We act proactively in this field», Victor Belyakov, Chief Financial Officer of FESCO noted.
To become effective the approved amendments shall be registered by MICEX in accordance with legislation. Registration is expected within the period before the end of April 2015.
According to the new terms, the bond circulation period will be prolonged for 1.5 years — until November 28, 2017. Thereat, the bond circulation conditions have been considerably improved — amortization is provided with 40% issue par value redemption in 2016 already; the yield rate has been increased up to the current market level.
More detailed the Amendments to the conditions of the Rouble Bonds circulation are presented on FESCO web site in the section http://www.fesco.ru/investor/