Nyrstar: 100 per cent lender support on Politus scheme, Chapter 15 hearing set for NN2 Scheme and Convertible Bond interest...
July 11 2019 - 3:00PM
Nyrstar: 100 per cent lender support on Politus scheme,
Chapter 15 hearing set for NN2 Scheme and Convertible Bond interest
waiver
THIS NOTICE IS
NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES
OF AMERICA, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE
LAW
Regulated Information
Nyrstar: 100 per cent lender support on
Politus scheme, Chapter 15 hearing set for NN2 Scheme and
Convertible Bond interest waiver
11 July 2019 at 22:00 CEST
On 15 April 2019, Nyrstar NV (“Nyrstar” or the
“Company”, and, together with its subsidiaries, the “Group”)
announced (the “15 April Announcement”) that it had entered into a
lock-up agreement for the recapitalisation of the Group with
representatives of its key financial creditor groups (the “Lock-Up
Agreement”). All capitalised terms in this announcement shall
have the meanings given to them in the 15 April Announcement
unless otherwise defined.
Politus
Nyrstar is pleased to announce that 100 per cent of the lenders
under the Group’s Unsecured Facilities have now acceded to the
Lock-Up Agreement, including all lenders to Politus B.V.
Chapter 15
The foreign representative of NN2 Newco Limited
has filed for Chapter 15 recognition of the NN2 Newco Limited
Scheme and the Chapter 15 hearing is set for 30 July 2019.
The Chapter 15 documents are available upon
request in writing from Lucid at: Lucid Issuer Services Limited
Tankerton Works, 12 Argyle Walk, London WC1H
8HA, United Kingdom and for Scheme Creditors on
the Lucid website at: www.lucid-is.com/nyrstar.
Convertible Bond interest
waiver
Pursuant to the terms of the Lock-Up Agreement,
Nyrstar is restricted from making payments under or in respect of
certain debt (including the Convertible Bonds). Accordingly,
Nyrstar has not made the interest payment falling due today in
respect of the Convertible Bonds. Upon expiry of the relevant
grace period, the NN2 Newco Limited Scheme would, upon
effectiveness, waive all defaults arising from this.
Further details of Nyrstar’s recapitalisation
may be found here:
https://www.nyrstar.com/en/investors/restructuring/scheme-of-arrangement-materials
None of the Trustees, the Information Agent or
any of their respective agents accepts any responsibility for the
information contained in this announcement and none of the Nyrstar
NV, NN2 Newco Limited, the Trustee, the Information Agent, or any
of their respective directors, employees or affiliates makes any
representation or recommendation whatsoever regarding the practice
statement letter. No offer to acquire any Convertible Bonds or High
Yield Notes is being made pursuant to this announcement. If
beneficial holders are in any doubt as to the action they should
take, they should seek their own financial and legal advice,
including in respect of any tax consequences, immediately from
their broker, bank manager, solicitor, accountant or other
independent financial, tax or legal adviser.
This announcement does not constitute an offer
to purchase the Convertible Bonds or High Yield Notes or the
solicitation of an offer to sell Convertible Bonds or High Yield
Notes. This notice is addressed only to holders of the Convertible
Bonds and/or High Yield Notes who are persons to whom it may
otherwise be lawful to distribute it (“relevant persons”). It is
directed only at relevant persons and must not be acted on or
relied on by persons who are not relevant persons.
THIS DOCUMENT IS NOT AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY SHARES, BONDS OR OTHER SECURITIES
OF NYRSTAR NV. THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL.
About Nyrstar
Nyrstar is a global multi-metals business, with
a market leading position in zinc and lead, and growing positions
in other base and precious metals, which are essential resources
that are fuelling the rapid urbanisation and industrialisation of
our changing world. Nyrstar has mining, smelting and other
operations located in Europe, the Americas and Australia and
employs approximately 4,200 people. Nyrstar is incorporated in
Belgium and has its corporate office in Switzerland. Nyrstar is
listed on Euronext Brussels under the symbol NYR. For further
information please visit the Nyrstar website: www.nyrstar.com.
For further information contact:
Anthony Simms - Head of
Investor Relations & Insured Risk T: +41 44 745 8157
M: +41 79 722 2152
anthony.simms@nyrstar.com
Franziska Morroni - Head of Corporate
Communications
T: +41 44 745 8295
M: +41 79 719 2342 franziska.morroni@nyrstar.com
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