DTEK successfully restructured its Eurobonds

“Today, reforms and strong efficient relations with the investment community are crucial for the Ukrainian business and Ukraine as a whole. Taking into account that Ukraine’s macroeconomic indicators are currently at their lowest and the international capital markets are closed for many Ukrainian companies, it is extremely important not to shutter the confidence of those investors who believe in Ukraine and Ukrainian business”, said Maxim Timchenko, CEO of DTEK. “DTEK has been consistently fulfilling its obligations. This, in particular, helped the company to exchange the Eurobonds. The investors’ trust helps DTEK to remain the most important factor ensuring stability of Ukrainian energy sector, support the social infrastructure of the regions in which we operate. During ten years of our work we have invested over $5,3 bln in the energy sector of Ukraine and became one of the largest private investors in the country. We keep on working with the maximum efficiency to secure the stability of the energy system. The large number of investors who have voted in favor of the Eurobonds restructuring is another major confirmation of DTEK’s business reputation”.

On 23 March 2015 DTEK announced a tender for the restructuring of its Eurobonds with the redemption date in late April 2015 due to the unfavorable macroeconomic situation in Ukraine and the energy sector crisis.

The tender resulted in 91.14% of Eurobonds holders, who have the right to participate in the tender, approving the exchange and the Scheme of Arrangement. The company used the Scheme of Arrangement pursuant to the tender documentation. By the ruling of the High Court of Justice of England and Wales all investors participate in Eurobonds’ restructuring.

All Eurobonds holders have been offered equal conditions: repayment of 20% of the securities’ par value and exchange for new Eurobonds with full repayment in 2018.

In 2010, DTEK placed Eurobonds in the amount of USD 500 mln for term of five years. In 2013, according to the tender terms the company purchased and cancelled USD 300 mln. Of Eurobonds. In 2014, the company purchased Eurobonds in the total amount of USD 19 mln.