GEK Terna: The change of loan terms was approved by the bondholders

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GEK Terna announces that on June 30, 2022, according to the invitation of the Bondholders of KOD 2018 from 16.06.2022 to Meeting, by electronic means without the physical presence of the Bondholders, the repeated Meeting of the bondholders of the bond issued 22.03.2018 Program for the Issuance of a Joint Bond Loan up to euro 120,000,000 and a Contract for the Appointment of a Bond Representative (the “Code Code 2018”).

The Repeat Meeting was attended, either in person or by proxy, by Bond Lenders representing a total of 43,419 bonds, out of a total of 120,000 bonds, ie 36.18% of the total outstanding balance of KOD 2018 at the time of the Meeting. The only item on the agenda was voted in favor by Bond Lenders representing 43,419 bonds, ie 100% of the bonds represented at the Repeat Meeting.

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In particular, the repeated meeting of the Bond Lenders of KOD 2018, took the following decision:

On the only item on the agenda, the recurring Assembly provided consent of the Bondholders for use of the net proceeds from the sale of an Excluded Asset in accordance with the uses provided for in (i) – (vi) of term 8.1 (n) of the KOD Program 2018, without time limit, by way of derogation from the terms 8.1 (o) and 14.1 (b) of the COD 2018 Plan, provided that the sale (ie the debt agreement for the transfer of the Exempt Asset) takes place within 24 months from the decision of the Bondholders’ Meeting. In addition, the exercise by the Bondholders of the rights of term 11.2 (b) of the COD 2018 Program regarding the above derogation was recognized and the Bondholders resigned from any relevant right.

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In addition, the company announces that on 30the June 2022, according to the invitation of the Bondholders of KOD 2020 from 16.06.2022 to the General Meeting, by electronic means without the physical presence of the Bondholders, the repeated Meeting of the bondholders of the bond loan issued under the Program of 19.06.2020 Loan up to EUR 500,000,000 and a Contract for the Appointment of a Bond Representative (the “KOD 2020 program“).

The Repeat Meeting was attended, either in person or by proxy, by Bond Lenders representing a total of 201,490 bonds, out of a total of 500,000 bonds, ie 40.30% of the total outstanding balance of COD 2020 at the time of the Meeting. The only item on the agenda was voted in favor by Bond Lenders representing 191,099 bonds, ie 94.84% of the bonds represented at the Repeat Meeting. Bond representatives of 10,391 bonds voted against the unique issue, ie 5.16% of the bonds represented.

In particular, the repeated meeting of the Bond Lenders of KOD 2020, took the following decision:

On the only item on the agenda, the recurring Assembly provided Consent of the Bondholders for the use of the net income from the sale of an Excluded Asset in accordance with the uses provided in items (i) – (vi) of term 8.1 (n) of the COD 2020 Program, without time limit, by way of derogation from terms 8.1 (o) and 14.1 (b) of the COD 2020 Program, provided that the sale (ie the debt agreement for the transfer of the Exempt Asset) takes place within 24 months from the decision of the Bondholders’ Meeting. In addition The non-exercise by the Bondholders of the rights of term 11.2 (b) of the COD 2020 Program regarding the above derogation was recognized and the Bondholders’ waiver of any relevant right took place.

Source: Capital

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