Nyrstar restructuring

Nyrstar NV by emailing Confidential. which is in the midst of a capital restructuring that will cede The outage of Nyrstar’s Port Pirie lead smelter in Australia has injected a rare bit of excitement into the London lead market. In addition, it offers gold and silver in concentrate and dore; indium and cadmium; and sulphuric acid for the production of fertilizers, fibers, paints, rubber, plastics, steel, detergents, and medicines. Nyrstar NV operates as a subsidiary of Trafigura Group Pte. Nyrstar shares closed 52. 00% Convertible Bonds to be held on 29 July 2019 THIS NOTICE IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE LAW Nyrstar said Mr Matej, who has been at the company for eight years, would be working closely with restructuring experts from Alvarez & Marsal on a review of the company’s capital structure. m. Nyrstar said it Reuters reported that the outage of Nyrstar’s Port Pirie lead smelter in Australia has injected a rare bit of excitement into the London lead market. The process should be completed by the end of Belgian metals and mining company Nyrstar's major shareholder Trafigura Group is set to take control of the company as part of a recapitalisation plan, Nyrstar said on Monday. Q1: Why is Nyrstar having to seek a debt restructuring? A1: The Board of Directors of Nyrstar concluded that the Nyrstar group had a substantial and  Restructuring and scheme of arrangement materials. Nyrstar: Recapitalisation steps commence: Launch of practice statement letter for Scheme of NN2 Newco Limited and entry into agreements regarding the sale of the operating group Nyrstar: Recapitalisation steps commence: Launch of practice statement letter for Scheme of NN2 Newco Limited and entry into agreements regarding the sale of the operating group Swiss-based global commodities trader Trafigura is set to take control of Belgian metals producer Nyrstar after agreeing a financial restructuring with its creditors. will take control of Nyrstar NV, Europe's biggest zinc smelter, as part of a deal to restructure the struggling company's debt  Apr 15, 2019 On Monday (April 15), Trafigura entered into a lockup deal and agreed to interim funding arrangements with Nyrstar in order to restructure the  Feb 6, 2019 Credit Opinion: Nyrstar NV: Update following ratings downgrade of some form of debt restructuring in order to put the capital structure on a  May 1, 2019 Nyrstar to make $42 million payment towards Port Pirie smelter loan. London Metal Exchange (LME) three-month lead rose to a one-month As previously announced, the Company is undertaking a capital structure review and is in constructive discussions with various of its financial stakeholders on a restructuring transaction. Trader and tanker owner Trafigura is taking control of Belgian metals and mining company Nyrstar. 00% Convertible Bonds held on 21 May 2019 and High Yield Bond consent solicitation results Nyrstar Group, one of the world’s largest zinc refiners, filed for bankruptcy in the U. GCR provides breaking news, daily updates and in-depth monthly features covering antitrust and competition enforcement in countries around the world. 29 July 2019. Nyrstar provides an update relating to the 2019 annual general shareholders’ meeting and further impairment of the Myra Falls mine NYRSTAR RESTRUCTURING COMPLETED TRAFIGURA GROUP PTE LTD BECOMES MAJORITY OWNER OF NYRSTAR’S OPERATING BUSINESS. “The economic effect for the shareholders of Nyrstar NV of the restructuring transaction would be a very substantial dilution,” the world’s second-largest zinc producer said in a note on the Euronext exchange this morning. Restructuring and scheme of arrangement materials; FAQ's; Presentations; Archive Previous Announcements; Share and Bondholder Information. Mar. 3 million payment this month. Nyrstar: Bondholders consent to amendments to facilitate restructuring – results of the Meeting of Holders of 5. For further details on the terms of the Restructuring, please refer to the 15 April Announcement. K. On the other hand 10-12 new posts will be created so that the net job loss envisaged is 110. Save. Nyrstar, a multinational company specialised in mining activities and metal trade has announced the dismissal of approximately 121 employees at their zinc smelting facility in Balen. Q1: Why is Nyrstar having to seek a debt restructuring? A1: The Board of Directors of Nyrstar concluded that the Nyrstar group had a substantial and imminent additional funding need and that it would be unable to meet its liabilities and funding requirements in the coming year without a material reduction Restructuring and scheme of arrangement. Under the Nyrstar has mining, smelting and other operations located in Europe, the Americas and Australia and employs approximately 4,100 people. , asking a judge to enforce a restructuring plan that has  2 days ago Global integrated miner Nyrstar will be run as an independently operated company within the Trafigura group after a deal was concluded with  Apr 15, 2019 Trafigura Group Ltd. I coordinated with team of external consultants to lead the team for the The restructuring agreement that was signed after the end of the reporting period reduces Nyrstar’s liabilities substantially and will lead to Trafigura consolidating the assets and remaining The Board of Directors of Nyrstar NV ("Nyrstar" or "the Company") announce today that Bill Scotting, Chief Executive Officer of Nyrstar, has decided to leave the Company to pursue other The Board of Directors of Nyrstar NV ("Nyrstar" or "the Company") announce today that Bill Scotting, Chief Executive Officer of Nyrstar, has decided to leave the Company to pursue other Nyrstar, after discussions with its largest shareholder Trafigura – the global commodity trading company which has entered into a conditional restructuring arrangement that may lead to it becoming the majority owner of the Port Pirie smelter – has formally advised the State Government it will make a $42. (the 'Restructuring') that has been announced by the Company on 15 April 2019 (the '15 April Announcement “Given Nyrstar’s liquidity position and the company’s large debt and interest burden, we believe a debt restructuring process is inevitable,” said ABN analyst Philip Ngotho in a report, reiterating his sell rating and setting a 1 cent target price, down from €1. S. Nyrstar NV ("Nyrstar" or the “Company” and, together with its subsidiaries, the “Group”) today announces that, related to the implementation steps for the successful restructuring of the Group and the ongoing work with its auditor to deliver an audit opinion for the financial statements for the financial year ended 31 December 2018, the One of the world’s largest independent commodity trading companies, Trafigura Group Pte Ltd, has advised that it has entered into an agreement and has committed to interim funding arrangements of US$250 million as part of a process to secure a restructuring deal with Nyrstar’s financiers. Nyrstar is listed on Euronext Brussels under the symbol NYR. nyrstar Nyrstar NV ("Nyrstar" or the “Company” and, together with its subsidiaries, the “Group”) today announces that it is withdrawing resolutions relating to the financial statements for the financial year ended 31 December 2018 from the proposed agenda and resolutions of the annual general Nyrstar: Meeting of Holders of 5. 00% Convertible Bonds due 2022 issued by the Company on 11 July 2016 (ISIN Code: BE6288132101) to attend a general meeting of Bondholders (the “Meeting”). Accessibility Help. Despite the recent increase in prices, the company is invested in exiting the zinc mining business as part of a larger restructuring process. FAQ's. London Metal Exchange three month lead rose Hon Rob Lucas MLC. Analysts said the deal alleviates some of the short-term pressure on Nyrstar and makes a debt restructuring more likely in the future. Mar 15, 2019 Nyrstar NV shares were down by 12% on the morning of Friday March 15 after the company indicated that its continuing capital restructure will  Jun 27, 2019 Nyrstar NV ("Nyrstar" or the “Company” and, together with its as Nyrstar's Chief Executive Officer once the restructuring has been completed. and certain (the “Lock-Up AgreementBondholders ”). Published on March 15, 2019 09:11 AM “The economic effect for the shareholders of Nyrstar NV of the restructuring transaction would be a very substantial […] issued by Nyrstar Netherlands (Holdings) B. 00% Convertible Bonds to be held on 29 July 2019 THIS NOTICE IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE LAW Nyrstar: Meeting of Holders of 5. Ltd. GRR daily and up-to-the-minute breaking news stories for cross-border insolvency and restructuring professionals, covering the most significant court rulings, new and proposed legislation, soft law and community moves globally Belgian metals and mining company Nyrstar's major shareholder Trafigura Group is set to take control of the company as part of a recapitalization plan, Nyrstar said on Monday. For further information please visit the Nyrstar website: www. Friday, 21 September, 2018. 00% Convertible Bonds held on  May 10, 2019 Distressed-Debt Funds Face Losses on Nyrstar Restructuring Bet. a conditional restructuring arrangement that may lead to it becoming the  Nyrstar -10% as restructuring to bring 'very substantial' shareholder dilution. LIQUIDITY Nyrstar's liquidity could become inadequate should it fail to refinance the €340 million notes, which mature in September 2019. 3) Nyrstar was in a cash Trafigura is taking over Nyrstar in a restructuring deal agreed with note holders, bank lenders, and prepay lenders. The Company is primarily engaged in the production of zinc and lead, as well as precious metals, such as Following a restructuring of Nyrstar’s debt in deals with creditors to stave off bankruptcy, Trafigura will control 98% of the company’s shares. 00% Convertible Bonds held on 21 May 2019 and High Yield Bond consent solicitation results, Finansnyheder på Euroinvestor giver dig hurtigt overblik for aktuelle begivenheder om børs og finans Trafigura set to take control of Nyrstar after financial restructuring. Following a restructuring of Nyrstar's debt in deals with creditors to stave off bankruptcy, Trafigura will control 98 per cent of the company's shares. Lima, Peru / Vancouver, Canada. will take control of Nyrstar NV, Europe's biggest zinc smelter, as part of a deal to restructure the struggling company's debt  May 21, 2019 Nyrstar: Bondholders consent to amendments to facilitate restructuring – results of the Meeting of Holders of 5. Nyrstar notes (2019s, 2022s, 2024s) are trading at 43/44 at a ~12% discount to Nyrstar NV, one of the world’s largest zinc smelting companies, is collapsing under the weight of its own debt. The process should be completed by the end By handing a $650-million lifeline to Nyrstar, Trafigura Group cemented its power over the troubled zinc producer and raised its standing in a possible restructuring. no Convertible Operations Manager, Auby smelter Nyrstar November 2018 – Present 9 months. 15, 2019 at 8:56 a. (Bloomberg) -- Distressed-debt funds are facing losses after a failed effort to  Shares in Europe's biggest zinc smelting company Nyrstar crashed to a record a debt restructuring process is inevitable,” said ABN analyst Philip Ngotho in a  Jul 10, 2019 Nyrstar Group, one of the world's largest zinc refiners, filed for bankruptcy in the U. Nyrstar, which owns the Port Pirie lead smelter, has had its credit rating cut and faces a very high probability of default, putting at risk 290 million in debt which has been guaranteed by South LONDON – By handing a $650-million lifeline to Nyrstar, Trafigura Group cemented its power over the troubled zinc producer and raised its standing in a possible restructuring. 064 million tonnes, is just months away from needing a definitive agreement from its stakeholders over its future, with a financial restructuring plan already in motion. It will hold a 98% stake in Nyrstar after the restructuring. Nyrstar was founded “The proposed debt restructuring is, we believe, the best possible solution for all stakeholders despite significant and painful losses incurred. In total 90 blue collar and 20 white collar workers are facing dismissal. Balen, Belgium or at http://www. 00% Convertible Bonds held on 21 May 2019 and High | May 21, 2019 The zinc mine sales that are integral to Nyrstar’s restructuring may take until 2017 to complete because rising prices are tempting more prospective buyers, the metals producer said as it Trafigura takes Nyrstar private in UK debt restructuring Trafigura will become a major zinc and lead smelter, taking global producer Nyrstar NV effectively private after reaching an agreement with other debtors, both companies said on Monday April 15. “The economic effect for the shareholders of Nyrstar NV of the restructuring transaction would be a very Nyrstar shares plunge after analysts says they could be worthless. nyrstar Nyrstar -10% as restructuring to bring 'very substantial' shareholder dilution. Jump to. Bloomberg reported that by handing a USD 650 million lifeline to Nyrstar, Trafigura Group cemented its power over the troubled zinc producer and raised its standing in a possible restructuring. Under the terms of the Notes, an interest coupon payment of approximately €31. , zinc producer and raised its standing in a possible restructuring. 6c) a share. FAQ’s. Nyrstar NV was founded in 2007 and is based in Zurich, Switzerland. Restructuring at metals producer to take longer as rising prices attract would-be buyers. 00% Convertible Bonds held on 21 May 2019 and High Yield Bond consent solicitation results 21 May 2019 at 21:00 CEST Trafigura granted extra cash to keep Nyrstar running smoothly as the company, the world’s second-largest zinc producer, faced a crisis over its massive debt burden. April 15 Swiss-based global commodities trader Trafigura is set to take control of Belgian metals producer Nyrstar after Global Restructuring Review - Cross-border restructuring and The English High Court has sanctioned a scheme of arrangement for global metals group Nyrstar, after Regulated Information – Inside Information. Nyrstar NV, formerly Nyrstar SA is a Belgium-based global multi-metals business company. The economic effect for the shareholders of Nyrstar NV of the restructuring transaction would be a very substantial dilution. will take control of Nyrstar NV, Europe’s biggest zinc smelter, as part of a deal to restructure the struggling company’s debt and steer it away from bankruptcy. , asking a judge to enforce a restructuring plan that has already won the support of creditors in the U. 6 million is due today, 15 March 2019, subject to a discretionary 30 day Nyrstar NV shares were down by 12% on the morning of Friday March 15 after the company indicated that its continuing capital restructure will involve a debt-for-equity swap to bondholders. One of the world’s largest independent commodity trading companies, Trafigura Group Pte Ltd, has advised that it has entered into an agreement and has committed to interim funding arrangements of US$250 million as part of a process to secure a restructuring deal with Nyrstar’s financiers. Trafigura is set for crunch talks with holders of Nyrstar bonds and the company’s bankers, as the world’s largest global zinc producer faces €340 million ($385 million) of looming debt repayments and a crumbling share price. Trafigura Group Ltd. Shareholder Structure; Shareholder Meetings; Bondholder Information; Dividends; Results, Reports and Presentations; Financial Calendar; Interactive Analyst Center Even though the shares rebounded today, analysts were unanimous in saying that they’ll eventually be worthless and Nyrstar is still on the path to a debt restructuring. Sections of this page. 00% Convertible Bonds to be held on 29 July 2019. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. ET; on Seeking Alpha  Nyrstar NV (Nyrstar), the world's largest refined-zinc producer in terms of capacity , that it would not have to restructure any of its debt obligations and that it will  May 27, 2019 Mr Lucas said the payment was a sign that the company was “acting in good faith ”, ahead of the implementation of a Nyrstar capital restructure  Jun 30, 2018 Restructuring expense . Nyrstar is a global multi-metals business, with a market leading reversals, restructuring expense, M&A related transaction expenses, depreciation, depletion and This follows a restructuring plan announced on Monday for Europe’s biggest zinc producer. 00% Convertible Bonds held on  Nov 20, 2018 Nyrstar NV received a $650 million cash injection from Trafigura Group Ltd. Nyrstar was formed in 2007 by the merging of Zinifex and Umicore’s NYRSTAR Nyrstar: Bondholders consent to amendments to facilitate restructuring ? results of the Meeting of Holders of 5. Convertible bondholders  452 records Nyrstar: Recapitalisation steps commence: Launch of practice statement letter for Scheme of NN2 Newco Limited and entry into agreements  Apr 14, 2019 Trafigura Group Ltd. Economic pressures, aggressive lending and increased risks can result in a wave of troubled balance sheets, . 00% Convertible Bonds held on 21 May 2019 and High Yield Bond consent solicitation Nyrstar NV shares were down by 12% on the morning of Friday March 15 after the company indicated that its continuing capital restructure will involve a debt-for-equity swap to bondholders. Scheme of arrangement effective date notice. It is understood the jobs are a Following a restructuring of Nyrstar’s debt in deals with creditors to stave off bankruptcy, Trafigura will control 98% of the company’s shares. It has agreed interim funding arrangements to complete a restructuring with Nyrstar’s Nyrstar has mining, smelting and other operations located in Europe, the Americas and Australia and employs approximately 4,200 people. The alternative would have put the future of the Nyrstar Group at imminent risk causing significant losses to all stakeholders including the company’s approximately 4,100 employees. Nyrstar provides an update relating to the 2019 annual general shareholders' meeting and further impairment of the Myra Falls mine Brussels Stock Exchange:NYR Global Investigations Review Swiss Supreme Court allows tax authorities to share UBS client data with France; Just Anti-Corruption PetroEcuador prosecutors can withhold ethics communications, for now According to an article published in The Financial Times, Nyrstar is extending the sale process of its zinc mines to attract more potential buyers as zinc prices continue to climb. “In the restructuring process Trafigura held all the cards,” said Marc Pierron, a senior credit analyst at Spread Research in Lyon, France. April 15 (Reuters) - Swiss-based global commodities trader Trafigura is set to take control of Belgian metals producer Nyrstar after agreeing a financial restructuring with its creditors. GCR (Global Competition Review) is the world's leading antitrust and competition law journal and news service. Responsible for managing the production operations at the Nyrstar Auby site in France. V. com with the applicant’s full name, email address and proof of current shareholding or bondholding in Nyrstar. ET sulphuric acid, zinc alloys, gold, silver, and copper cathode. com. Regulated Information Nyrstar: Bondholders consent to amendments to facilitate restructuring – results of the Meeting of Holders of 5. Trafigura, which signed a 1 day ago · LONDON (ICIS)--Trafigura, the Swiss-headquartered commodities trader has taken full control of miner and sulphuric acid producer Nyrstar. NYRSTAR will axe 100 jobs from its Port Pirie smelter as part of the company’s move towards full-time operations following its recent $660 million redevelopment. Nyrstar NV (“Nyrstar” or the “Company”, and, together with its subsidiaries, the “Group”) today invited the holders (the “Bondholders”) of the 5. 00% Convertible Bonds held on 21 May 2019 and High Yield Bond consent solicitation results, Informations réglementées, informations financières, directive transparence Nyrstar NV of the restructuring transaction would be a very substantial dilution. Lille Area, France. Shares in Nyrstar, which owns the Port Pirie and Hobart smelters, plunged in recent days after ABN Amro analyst Philip Ngotho slashed his target price for the company to just €0. It As it is Talvivaara’s largest creditor, Nyrstar’s withdrawal on Tuesday prompted the Espoo District Court to withhold a decision on the mine’s application for restructuring. 01 (1. The outage of Nyrstar's Port Pirie lead smelter in Australia has injected a rare bit of excitement into the London lead market. info@nyrstar. 00% Convertible Bonds held on 21 May 2019 and High Yield Bond consent solicitation “The proposed debt restructuring is, we believe, the best possible solution for all stakeholders despite significant and painful losses incurred. 38 percent lower in Nyrstar NV (“Nyrstar” or the “Company”) today provides an update with regards to the meetings of the creditors of NN2 Newco Limited (“NN2”) in respect of the proposed scheme of arrangement of NN2 under Part 26 of the Companies Act 2006 (the “Scheme”) which took place today. Nyrstar, whose market capitalisation has fallen from €780m at the start of 2018 to almost nothing, misjudged an expansion into mining and ran up debts in excess of €1bn, which it struggled to service. Nyrstar undertakes swap transactions of metal concentrates with the  Jan 23, 2019 Nyrstar recently acknowledged it has been hit by a cyber-attack is working on a deal to restructure its debts, recently said Martyn Konig had  Nov 12, 2018 Nyrstar, Europe's biggest zinc smelting company, is on an inevitable path toward a debt restructuring, said ABN's Philip Ngotho, whose bearish  Financial restructuring: Operational know-how. 5% 2019 notes, The commodity trader is at once Nyrstar’s largest shareholder, supplier, customer and senior-secured finance provider. 100% in number of those participating in the Convertible Bonds Scheme Meeting, voted in favour of the Scheme; and 2. As part of a remedy package with the European Commission relating to its merger with Xstrata Plc, Glencore agreed to terminate the Nyrstar offtake accord. Analysts say the company is headed for an inevitable restructuring, and the Nrystar (OTC:NYRSF) shares are 10% lower in Europe after the company said its continuing capital restructure will involve a debt-for-equity swap to bondholders, resulting in a "very substantial Nyrstar Group, one of the world’s largest zinc refiners, filed for bankruptcy in the U. Milbank has acted for the crossholder ad hoc group of noteholders (representing in excess of 70 percent of holders of Nyrstar’s €340 million 8. April 15 Swiss-based global commodities trader Trafigura is set to take control of Belgian metals producer Nyrstar after Nyrstar will probably need a debt restructuring in combination with a share issue,” Ngotho added. May 21, 2019 Nyrstar: Bondholders consent to amendments to facilitate restructuring – results of the Meeting of Holders of 5. The agreement replaced a deal with Glencore Plc, the largest metals trader. At an extraordinary general shareholders meeting on March 14, Nyrstar will also seek to confirm corporate restructuring expert Jane Moriarty as a new independent director. On receipt of satisfactory proof of a current holding, Nyrstar will email the applicant a username, password and link to access the Confidential Documents. nyrstar. (Reporting by Julia Payne and Zandi Shabalala Editing by David Holmes) Nyrstar, which was formed in 2007 by the merging of Zinifex and Umicore’s smelting divisions, and which smelted roughly 8% of the world’s total refined zinc last year at some 1. Nyrstar chose Noble, Asia's largest commodity trader, to market part of its European output in 2013. Project Manager- Operational Restructuring Initiative Nyrstar Mining 2012 – 2013 1 year. Read more Nyrstar is an integrated mining and metals business with market leading positions in zinc and lead, and growing positions in other base and precious metals; Nyrstar has mining, smelting, and other operations located in Europe, Australia, and North America. Trafigura set to take control of Nyrstar after financial restructuring. Trafigura granted extra cash to keep Nyrstar running smoothly as the company, … the Companies Act 2006 (the "Scheme") which took place today. Trafigura granted extra cash Nyrstar: Meeting of Holders of 5. The process should be completed by the end of September. incurred by Nyrstar, including the discontinued operations, for which no tax benefit has been recognised. The commodity trader is at once Nyrstar’s largest shareholder, supplier, customer and senior-secured finance provider. Nyrstar NV (“Nyrstar” or the “Company”, and, together with its subsidiaries, (the “Restructuring”) that has been announced by the Company on 15 April 2019 (the “15 April As of January, Nyrstar has also had a new interim chief finance officer in Roman Matej, with former incumbent Michel Abaza leaving the post after just seven months in the job. The trading house officially became majority owner on 31 July, and has reinstated financing facilities with Nyrstar’s financial creditors, following a restructuring process. Loss from continuing operations in H1 2018 of EUR 45 million, compared to a net loss of EUR 56 million in H1 2017, mainly as a result of lower foreign exchange impact offset by higher restructuring expenses and consulting expenses compared to Nyrstar NV ("Nyrstar" or the "Company" and, together with its subsidiaries, the "Group") today announces that it has today published implementation of the restructuring provided for in the The negative outlook reflects the company's tight liquidity and a high probability that Nyrstar's ongoing capital structure review could result in a default under Moody's definition. As part of the restructuring Trafigura has provided US$250 million in bridge financing, as well as a US$650 million trade finance facility. Trafigura is exclusively owned by its management and active employees, who are therefore focused on the long-term success of the business, promoting management depth and stability, and encouraging prudent risk management. nyrstar restructuring

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