Business
Dutch Court Approves Debt Restructuring Plan
Dutch Court Approves Debt Restructuring Plan.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n \nRNS Number : 9589L Plaza Centers N.V. 10 July 2014 \n \n\n10 July 2014\nPlaza Centers N.V. (the \"Company\" or \"Plaza\")\n \nDUTCH COURT APPROVES DEBT RESTRUCTURING PLAN\n \nPlaza announces that today, following the confirmation hearing held on 8 July 2014, the Dutch Court has confirmed the Dutch restructuring plan (the \"Plan\"). This follows the Company receiving approval from 92% of creditors voting in favour of the Plan. \n \nAs previously announced, approval of the Plan defers the principal maturities of the Company's Series A and Series B bonds for at least 3.5 years and provides bondholders with significantly improved terms, including additional interest of 1.5% p.a; 13.21% of the shares in the Company post its proposed EUR 20 million rights issuance; certain covenants on operations; and an option for early repayments when any assets may be sold.\n \n \nThe Plan together with a prospectus detailing the proposed amendments to the terms of the Israeli Series A and Series B bonds, as well as other provisions applicable to the relevant creditors, is available to view on the Company's website at: www.plazacenters.com.\n \n \nFor further details, please contact:\n \nPlaza\nRan Shtarkman, President and CEO +36 1 462 7221\nRoy Linden, CFO +36 1 462 7222\n \nFTI Consulting\nStephanie Highett / Nina Legge ...