Petrol proposes to extend the maturity and decrease the interest on its Eurobond issue

Petrol published on the LSE amended agenda for its upcoming bondholders’ meeting. The meeting would vote for extension of the maturity of the bonds until 26 January 2022 (from 26 January 2017) and changes in the interest rate of the issue. The outstanding EUR 18.659m bonds are proposed to pay 5.5% for the period 26 January 2017 - 26 January 2018, 6% for the period 26 January 2018 - 26 January 2019, 6.5% for the period 26 January 2019 - 26 January 2020, 7.5% for the period 26 January 2020 - 26 January 2021 and 8% for the period from 26 January 2021. The meeting is to be held in London on December 9. The bond issue original size was EUR 100m, paying 8.375% coupon.