prezzo OTC Nyrstar 24 delle 13.10 39/42
By Mark Burton and Luca Casiraghi
(Bloomberg) -- A group of investors holding two high-yield
bonds issued by Nyrstar NV appointed law firm Milbank, Tweed,
Hadley & McCloy in preparation for a debt review, according to
people familiar with the matter.
The bondholder group holds about 30 percent of the combined
840 million euros ($953 million) of debt, said the people, who
asked not to be identified because it’s private. The investors,
who selected the law firm on Thursday, are also preparing to
pick a financial adviser and are in talks with holders of a
smaller convertible bond, the people said.
A spokesman for Nyrstar declined to comment on the
bondholders’ group. A spokeswoman for Milbank didn’t return
calls and emails seeking comment on Friday.
A company official confirmed earlier on Friday that the
troubled zinc smelter and miner has appointed law firm
Freshfields Bruckhaus Deringer to advise it on financing
options, alongside Morgan Stanley. Nyrstar’s biggest shareholder
Trafigura Group Ltd. and a group of banks are in advanced
discussions to provide new financing to the company, giving it
time to address its debt burden, separate people familiar with
the matter said on Thursday.
Nyrstar’s 340 million euros of bonds due September 2019
rebounded from record lows on Friday, and are currently quoted
at about 57 cents on the euro, according to data compiled by
Bloomberg. The company’s shares gained about 50 percent.
To contact the reporters on this story:
Mark Burton in London at
[email protected];
Luca Casiraghi in London at
[email protected]
To contact the editors responsible for this story:
Shelley Robinson at
[email protected]
Chris Vellacott