RTB Bor Group €1.2 billion pre-pack restructuring

Overview:

• RTB Bor Group has had its planned pre-pack reorganisation plan approved by the Commercial Court in Zajecar.
• The deal is said to involve restructuring of debt valued at €1.2 billion.
• Details of the plan include: (i) the write-off of 90% of unsecured claims; (ii) the rescheduling of debt repayments; (iii) a debt-for-equity swap for secured creditors; (iv) the merger of all four companies in the group with the goal of establishing one integrated system; and (v) the possibility for further development of production and development of new mines with different investment structures.

Sam Duke - Editor