FESCO signed novation agreement with ruble bonds holders BO-01 for deferring payment of 3rd coupon until April, 2017

17 January 2017
FESCO PLC (the “Company”) announces signing a novation agreement with the representative of the holders of the Company bonds, series BO-01 (the “Bonds”), for deferring payment of the third coupon until April 27, 2017.
Following the results of the general meeting of holders of the Company Bonds, which took place on December 27, 2016, the holders supported the proposal of the Company to defer the payment of the third coupon originally due on October 27, 2016 until April 27, 2017 and enter into a novation agreement to document the same. The meeting also elected the Region Finance LLC as the bondholders’ representative.
The Сompany expresses gratitude to the bondholders for this decision, which will help in alleviating the debt service burden on the Company.