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The coupon of the New Notes is 10.75% p.a. with interest paid in cash quarterly and with a step-up in time, starting at 5.5% p.a. from the date that the Scheme is sanctioned until 31 December 2018, 6.5% p.a. in 2019, 7.5% in 2020, 8.5% in 2021, 9.5% in 2022 and 2023, and 10.75% p.a. in 2024 in accordance with the terms of the New Notes. The amount equal to 10.75% p.a. minus the applicable cash payment interest rate for each year will be capitalised and compounded on a quarterly basis.
Cash sweep 3.7 3.8
There will be no cash sweep applicable to the New Notes. Prepayment of the New Notes
Buybacks of the New Notes will be permitted without consent of the holders of the New Notes provided all such New Notes shall then be delivered to the Trustee for cancellation and shall be cancelled by the Trustee not later than 20 Business Days after the date of the buyback.