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IMF Bentham Provides Update on Placement of Bonds and Amendment of Terms

03 Dec 2018  |  10:26:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Placement of Bonds and Amendment of Terms - Update

IMF Bentham announced that it held a meeting of holders of Bonds (Bond Holders) to seek approval to amend the terms of the Bonds (Restructure Proposal). It announces that the Restructure Proposal was approved by in excess of 75% of Bond Holders voting at the meeting, which was the required threshold to approve the Restructure Proposal. The amendments implemented under the Restructure Proposal include extending the maturity of the Bonds to 22 December 2022, introducing a first issuer call date of 8 January 2022 with a step up in margin of 1.0% applying from 1 January 2022 and introducing additional investor protections.

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