Analyst says Agroton deal with bondholders leaves company seriously damaged - Books/Stories - News - Ukraine Business Online:
"A bondholders meeting of Agroton’s (AGTPW) USD 50 mln notes maturing in 2014 approved the bond’s restructuring terms, the company stated in its August 9 release, Concorde Capital told investors today in an online communication.
The terms include extending the bond’s maturity by five years to July 2019, cutting its coupon to 8.0% from 12.5%, postponing its recent coupon payment (due July 14, 2013) by six months, and loosening its financial leverage covenants. Following the news, Agroton shares (AGT PW) increased 9.6% to PLN 2.52, the price before it had reported defaulting on its recent coupon."
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