AMSTERDAM, April 8, 2025/ PRNewswire/– OCI International OCI a leading worldwide manufacturer and supplier of hydrogen items today revealed that it has actually reached a assistance contract ( the “ Assistance Contract“) with a group of holders (the “Shareholder Group”) of its U.S.$ 600,000,000 6.700 percent Notes due 2033 (the “Bonds”), associating with the treatment of the Bonds following the conclusion of the revealed sale of OCI’s International Methanol Company to Methanex Corporation (the “MetCo Deal”). The Shareholder Group consists of members holding Bonds with a primary quantity in excess of 60% of the overall exceptional principal quantity of the Bonds.
Under the regards to the Assistance Contract:
- OCI concurs that it will release a tender deal for the Bonds within 5 service days of the effective closing of the MetCo Deal, and each member of the Shareholder Group accepts support and tender into any such tender deal. The tender deal will be on traditional terms and provide a rate of 110.75% of par, plus accumulated and unsettled interest; and
- Each member of the Shareholder Group concurs that it will support any change to the Bonds proposed by OCI, which modifies the paperwork governing the Bonds to (1) place a right of OCI to redeem the Bonds on or after the closing of the MetCo Deal at a rate of 110.75% of par, plus accumulated and unsettled interest, and (2) waiving any declared defaults or occasions of default that might be exceptional under the paperwork governing the Bonds.
Hassan Badrawi, CEO of OCI commented: ” We are happy to have actually reached contract with a big group of our shareholders, with a view to an organized pay down of our capital structure upon the closing of the MetCo Deal. OCI has a long and favorable history in the bond markets and values its relationship with its financiers, so we are happy to have actually structured an offer that permits everybody to get involved and rewards shareholders relatively for their faith in OCI over all these years.”
This news release includes details within the significance of Short article 7( 1) of the EU Market Abuse Policy.
ABOUT OCI GLOBAL
Discover More about OCI at www.oci-global.com. You can likewise follow OCI on LinkedIn.
CONTACT
Sarah Rajani CFA
International Vice President, Financier Relations & & Communications
Email: sarah.rajani@oci-global.com
View initial material: https://www.prnewswire.com/news-releases/oci-global-announces-agreement-with-bondholders-302423876.html
SOURCE OCI Global
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