World News: 06:00 GMT Friday 15th March 2019. [Nyrstar via Globe Newswire via SPi World News]
Nyrstar - Constructive capital structure discussions and bond coupon deferral
Nyrstar NV (“Nyrstar” or the “Company”) refers to the €350 million Senior Notes due 2019 and €500 million Senior Notes due 2024, in each case issued by Nyrstar Netherlands (Holdings) B.V. (the “Issuer”) (collectively, the “Notes”).
As previously announced, the Company is undertaking a capital structure review and is in constructive discussions with various of its financial stakeholders on a restructuring transaction. The economic effect for the shareholders of Nyrstar NV of the restructuring transaction would be a very substantial dilution. Under the terms of the Notes, an interest coupon payment of approximately €31.6 million is due today, 15 March 2019, subject to a discretionary 30 day grace period. As constructive discussions continue, the Issuer has decided to defer payment of the interest coupon and to make use of the applicable grace period under the terms of the Notes.
Nyrstar will provide further updates as appropriate in due course.
Anthony Simms - Head of Investor Relations T: +41 44 745 8157 M: +41 79 722 2152 Franziska Morroni - Head of Communications T: +41 44 745 8295 M: +41 79 719 2342
Globe Newswire: 06:00 GMT Friday 15th March 2019
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