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Ozon announces early redemption of 94% of convertible bonds worth $750 mln

Earlier, Ozon said that it had obtained US and Cyprus sanctions licenses regarding early redemption of the bonds, or restructuring, and in March 2023 the UK sanctions authority published a general license on the restructuring and its implementation

MOSCOW, April 25. /TASS/. Ozon has redeemed 94% of convertible bonds worth $750 mln, the Russian online commerce company reported on Tuesday.

"As a result of a delisting event in March 2022, the holders of our $750 million 1.875% senior unsecured convertible bonds due 2026 were entitled to require the company to redeem the bonds at the principal amount together with accrued interest on the redemption date, which was May 31, 2022," the company said.

Earlier, Ozon said that it had obtained US and Cyprus sanctions licenses regarding early redemption of the bonds, or restructuring, and in March 2023 the UK sanctions authority published a general license on the restructuring and its implementation.

In September 2022, Ozon and an ad hoc committee of holders of the bonds reached an agreement with respect to the terms of early redemption of the bonds. In October 2022, holders of over 90% in principal amount of the bonds outstanding voted in favor of the restructuring.