To the attention of noteholders in respect of the (a) EUR 325 million 9.125% New York law governed senior notes due to mature in 2020 (ISINs: XS0836495183 / XS0836495696) (the “EUR2020“), (b) USD 300 million 8.875% New York law governed senior notes due to mature in 2020 (ISINs: USX0027KAG32 / US00855UAB52, CUSIPs: X0027KAG3 / 00855UAB5) (the “USD2020“) and (c) EUR 300 million 9.875% New York law governed senior notes due to mature in 2019 (ISINs: XS0776111188 / XS0776110966) (the “EUR2019“) issued by Agrokor d.d. (the “Notes” and the holders thereof being “Noteholders“).
Under the Settlement Plan[1], BNY Mellon was entitled to receive the New Instruments issued for the Notes and to appoint Noteholders as its designees to receive their respective portion of New Instruments on its behalf (see Cl. 18.3.1 of the Settlement Plan). BNY Mellon designated (a) in relation to 1,904,277 Strips allocated to BNY Mellon in respect of the EUR2020 and USD2020 Notes, and in relation to 1,126,698 Strips allocated to BNY Mellon in respect to the EUR2019 Notes, certain entities to receive such distributions on account of its Assigned Claim and (b) in relation to the remainder, each Noteholder to receive such distributions, pro rata based on each Noteholder’s holding of Notes (“Designation”). For further details, please refer to the notice from BNY Mellon on 2 April 2019 (https://nagodba.agrokor.hr/storage/2019/04/Trustees-Notice.pdf ).
- Allocation
Noteholders can confirm their allocations under the Designation with the following information (“Allocation”)
| Reference |
Information |
Data Points |
| A |
Interest days accrued prior to claim |
EUR2019: 159 days
EUR2020: 69 days
USD2020: 69 days |
| B |
FX rate used to convert into HRK claim |
HRK 7.458583 per EUR
HRK 7.011923 per USD |
| C |
Net amount outstanding per series |
EUR2019: €291,047,375
EUR2020: €238,471,115
USD2020: $189,460,125 |
| D |
Split of series across claims in Annex 4 |
EUR2019: Table Ordinal No. 58
EUR2020: Table Ordinal No. 305
USD2020: Table Ordinal No. 305 |
| E |
Strips issued to notes |
Claim 58: 29,475,408
Claim 305: 42,189,087 |
| F |
Strips auctioned to pay BNYM fees |
Claim 58: 1,126,698
Claim 305: 1,904,277 |
| G |
Split between determined and challenged |
Determined: 15.7%
Challenged: 84.3% |
Please note that if the formula above implies a fractional allocation, the number of strips is rounded down to the nearest whole strip.
- Issuance
In line with the Designation, each Noteholder whose identity and holdings the Company had knowledge of and whose allocation of New Instruments had been determined (“Identified Noteholders”) has been issued with New Instruments according to its individual Allocation on the Implementation Commencement Date in its name or, if such Noteholder has not fulfilled all requirements to receive New Instruments under the Settlement Plan, in the name of the Securities Escrow Agent on behalf of such Noteholder (see Cl. 19.3 et seq of the Settlement Plan). Noteholders who had blocked their Notes on 8 March 2019 (the Claims Record Date) in accordance with Agrokor’s notice on 1 March 2019 (http://nagodba.agrokor.hr/en/notice-noteholders-regarding-public-announcement-date/) and submitted a KYC Form were regarded as Identified Noteholders.
New Instruments allocated to Noteholders who are not Identified Noteholders have been issued in the name of the Securities Escrow Agent. Unidentified Noteholders (i.e. Noteholders that did not block their Notes on 8 March 2019 (the Claims Record Date) in accordance with Agrokor’s notice on 1 March 2019 (http://nagodba.agrokor.hr/en/notice-noteholders-regarding-public-announcement-date/) or did not complete KYC) should contact the Information Agent (details below) for instructions on how to receive the New Instruments. Please note that Noteholders no longer hold any positions in the Notes.
Noteholders are reminded that all outstanding Notes were cancelled on the Implementation Commencement Date pursuant to Cl. 18.3.1 of the Settlement Plan.
Information Agent
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Tel: +44 (0) 20 7704 0880
Attention: Yves Theis
Email: agrokor@lucid-is.com
Trustees Notice
[1] All undefined terms with capitals used in this notice have the meaning as set out in de notice dated 21 January 2019 or in the Settlement Plan, which can be found on http://nagodba.agrokor.hr/.
