#Cleary Gottlieb #London #UK #BNY Mellon #Emis Finance

Consent Solicitation for EMIS Finance B.V. Bonds

On July 9, 2025, a significant solicitation for consent was initiated by Cleary Gottlieb Steen & Hamilton LLP at the request of certain bondholders of EMIS Finance B.V. This move aims to address and review various proposals concerning the bond series that are currently in circulation.

Background of EMIS Finance B.V.

EMIS Finance B.V. has been known for issuing bonds to finance its operations, particularly loans arranged for ABH Ukraine Limited. Two key series involved in this solicitation include:

• - LPN-26: $50,000,000 at 8.75% due November 7, 2022 (ISIN XS1907535576)
• - LPN-31: $50,000,000 at 9.50% due October 15, 2024 (ISIN XS222841175)

This solicitation has been necessitated by requests from certain bondholders who are seeking modifications to the existing trust management structure.

Proposed Changes

The consent solicitation covers several proposals that are crucial to the management of the bonds:
1. Removal of Current Trustee: The solicitation proposes the removal of BNY Mellon Corporate Trustee Services Limited as the current trustee of the bonds.
2. Removal of Current Paying Agent: It suggests eliminating The Bank of New York Mellon from their role as the primary paying agent.
3. Appointment of New Trustee: The proposal includes appointing GLAS Trustees Limited as the new trustee.
4. Appointment of New Paying Agent: GLAS Trust Company LLC would assume the responsibilities as the new principal paying agent for each series of bonds.

These changes are intended to streamline management and potentially enhance the overall trust arrangement for bondholders.

How Bondholders Can Participate

Bondholders who wish to weigh in on these proposals can do so by visiting the dedicated investor reporting page at GLAS Agency. Here, they can register to receive a detailed memorandum that outlines all aspects of the consent solicitation.

In the memorandum, there are crucial definitions and terminologies that are essential for participants to understand, primarily those capitalized terms which would have meanings assigned in the bond documents.

Importance of the Solicitation

This solicitation is a significant step in ensuring that bondholders' interests are represented, and management of the bonds aligns with current market expectations. The strategic changes proposed can potentially lead to increased confidence in the handling of investments related to EMIS Finance B.V.

Bondholders are encouraged not only to review the detailed memorandum but also to take an active role in the solicitation process to make their voices heard regarding these proposed changes.

To contact the solicitation agent or obtain further information, investors may reach out to GLAS Specialist Services Limited in London directly via email at info@glas.agency or by phone at +44 (0)20 3597 2940.

Final Thoughts

As the financial landscape continues to evolve, the ongoing engagement between bondholders and issuers becomes increasingly vital. The changes proposed in this solicitation reflect the dynamic nature of bond management and the need to adapt to meet investor expectations. Stakeholders should remain vigilant about such opportunities for engagement and make sure their positions are represented effectively.