Written by: Salma Al-Saqqa
Zorlu Energy has announced the launch of a consent solicitation process from holders of international bonds, known as Eurobonds, to postpone the payment date of major financial dues. This decision comes as part of the company's efforts to reorganize its financial obligations related to its debt instruments, amidst market monitoring of the financial structure developments of companies operating in the energy sector.
Details of the international bond payment postponement request
The process targets holders of bonds associated with international identification codes XS2926261426 and US98977LAA44. The move includes requesting approval to postpone the payment of the coupon or interest due, with a total value of 60 million and 500 thousand US dollars, which was originally scheduled for October 23, 2026, to be deferred to April 23, 2027.
Temporary restrictions and regulatory measures for debt management
In addition to postponing the interest payment date, the proposed process includes introducing additional temporary restrictions on the terms and conditions of those bonds. The company has begun taking the necessary procedural steps by publishing the details of the documents related to the offer on the Euronext Dublin platform, in addition to making them available on its official website dedicated to investor relations to enable shareholders and bondholders to view them.
Commitment to disclosure and transparency in energy markets
The company confirms its commitment to full and timely disclosure to all investors and regulatory authorities regarding any developments that may arise concerning the course of the consent solicitation request and subsequent steps for organizing the debt structure. These developments come in the context of standard regulatory procedures for major companies to deal with their financial obligations and their strategic vision for liquidity management.
