EQS-News
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
- Metalcorp Group S.A. will capitalize interest payment on 8.5% notes 2017/2023.
- Exchange of notes into acquisition rights currently not executable.
- Resolutions of June 2023 create basis for consensual restructuring and recapitalization.
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. |