DTEK bondholders approve standstill until Oct. 28

The holders of DTEK’s Eurobonds (DTEKUA) approved at their April 25 meeting a scheme of arrangement that grants time for DTEK to arrange its long-term debt restructuring by Oct. 28. 98.8% of bondholders voting at the meeting – based on value – approved the scheme, with the minimum threshold being 75%. The final step to approve the scheme should be taken today by an English court. Following the court’s anticipated approval, on April 29 DTEK will have to pay 0.25% in a scheme consideration fee to relevant noteholders.