By KYIV. Dec 14 (Interfax-Ukraine) – DTEK Energy will pay $19.791 million to buy back eurobonds as part of fulfilling its obligations to investors who agreed to the terms of the previously announced tender, the company said on the Irish Stock Exchange.
According to the report, DTEK Energy is redeeming eurobonds maturing in 2027 with a coupon rate of 7-7.5% for a total nominal amount of $80.036 million, the maximum redemption price is 27% of the nominal.
As specified in the message, settlements based on the results of the previously announced tender are expected on December 16. The direct buyer is DTEK Holdings Limited, the issuer is DTEK Energy B.V.
DTEK Energy announced its intention to buy back eurobonds at the end of November. The company noted that such a buyback would reduce its debt burden and allow to direct more funds saved from servicing international debt to current operations. The matter concerns restoration of equipment damaged by shelling, the repair of power units of thermal power plants, a more reliable passage of the autumn-winter period, investments in domestic coal mining.
DTEK Energy indicated that, first of all, they are doing everything possible to save enterprises and pay wages on time, as well as to provide electricity and heat in the country, having invested more than UAH 3 billion in coal and energy enterprises since the beginning of the year.
