Metalcorp Group S.A.
Metalcorp Group S.A.: Information on the capitalization of the interest payment as of 30 September 2023 under the 8.5% notes 2017/2023 and on the status of the restructuring
EQS-News: Metalcorp Group S.A.
/ Key word(s): Bond
Metalcorp Group S.A.: Information on the capitalization of the interest payment as of 30 September 2023 under the 8.5% notes 2017/2023 and on the status of the restructuring The exchange of the Notes into acquisition rights for (i) one new bond issued by a subsidiary of Ferralum Metals S.A. (“Ferralum”) against payment of an issue amount (ii) one new bond of Ferralum and two new bonds of a subsidiary of Metalcorp Group S. A. without payment of an issue amount is currently not yet executable, as the relevant conditions precedent for the execution, in particular the finalization of the terms of the new bonds and the approval of the final restructuring concept by the holders of the EUR 300 million notes 2021/2026, have not yet occurred. However, the Company expects that the agreement with the joint representative, the ad hoc group of holders of the 2021/2026 notes and Ferralum will be reached shortly, so that the convening of the vote of the holders of the note 2021/2026 notes can then also take place promptly. The IDW S 6 expert opinion on the Ferralum group required for finalizing the terms and conditions of the new bonds is now available in draft form and has been included in the negotiations. The resolutions of 16 June 2023 and the expected approval of the holders of the 2021/2026 notes would create the basis for a consensual restructuring and recapitalization of the Company. The payment of the participation fee to the holders of the 2017/2023 notes who participated in the second noteholders’ meeting and requested this will be made after all resolutions of the noteholders’ meeting have become effective, i.e. after the aforementioned conditions for execution have been met. The Company expects this to be the case in November 2023. Metalcorp Group S.A. apologizes to all noteholders for the delay due to the longer than expected negotiations. Metalcorp Group S.A.
28.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG. |
Language: | English |
Company: | Metalcorp Group S.A. |
8, Rue Dicks | |
L-1417 Luxembourg | |
Luxemburg | |
Internet: | www.metalcorpgroup.com |
ISIN: | DE000A3KRAP3, DE000A19MDV0 |
WKN: | A3KRAP, A19MDV |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Tradegate Exchange |
EQS News ID: | 1737229 |
End of News | EQS News Service |