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.
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.
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.
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 firstname.lastname@example.org
Franziska Morroni – Head of Corporate Communications T: +41 44 745 8295 M: +41 79 719 2342 email@example.com