DTEK Holdings $2 billion restructuring and $160 million 10.375% notes issue

Overview:

• Ukraine's DTEK Holdings completed the restructuring of $2 billion of debt and issuance of $160 million 10.375% through an English law-governed scheme of arrangement to restructure New York law-governed senior notes.
• The bonds were issued by DTEK Finance, DTEK Holdings' Dutch financing subsidiary.
• The transaction was the first high-yield bond restructuring by a Ukrainian issuer to use the scheme of arrangement.
• Deutsche Bank acted as initial purchaser.

Jon Moore - Journalist