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UTair offers bond holders debt restructuring - company

June 29, 2015 | TASS

UTair Airlines has offered bond holders debt restructuring, the company said in a statement on Friday. Raiffeisenbank has been named the restructuring consultant.

According to the basic embodiment of the compensation agreement, 20% of the nominal value of bonds is paid in cash, 80% are not to paid, 100% of the outstanding coupons is not paid.

The investor has the right to choose an alternative version of the agreement, according to which 15% of the nominal value of bonds are paid in cash, 25% by new 7-year bonds, 60% by new 12-year bonds, and 100% of the outstanding coupons and interest on borrowed funds accrued on the coupon rate, are paid by new 7-year and 12-year bonds at a ratio of 40 to 60.

In both cases, the interest for late repayment of securities and/or payment of income thereon shall not be payable.

The report stresses that the terms of the bond restructuring are not binding on the parties, directed solely for discussion and agreement on the project and can be modified in the course of further consideration and structuring. The options on restructuring can also be specified in the structuring of the transaction. -

Issue: UTair Finance, 05

StatusDefaultCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
early redeemedYesRussia07/21/20161,500,000,000 RUB-/-/-

Company: UTair Finance

Full company nameUTair Finance
Country of riskRussia
Country of registrationRussia


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