Vestel Elektronik Says Eurobond Holders Backed Consent Solicitation
Vestel Elektronik said its eurobond holders approved the consent solicitation with 82% of votes, delaying the November coupon and restructuring 2032 and 2035 notes.
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what happened
Turkish electronics maker Vestel Elektronik Sanayi ve Ticaret said on Wednesday that its eurobond holders had supported a consent solicitation, according to Reuters. Holders representing 93.38% of the notes took part, and the extraordinary resolution passed with 82% of votes cast in favour.
The proposal includes extending the standstill date and postponing the interest payment due in November 2026. It also amends and restates the existing trust deed so that the 2035 notes can be created from the current notes and the 2032 notes can be constituted.
why it matters
The decision concerns the debt restructuring of a single issuer, so its scope is limited. Still, it shows that bondholders are willing to accept payment deferrals to keep a restructuring on track, which matters when assessing credit risk in Turkish corporate eurobonds.
market impact
Vestel bonds: payment deferral and new notes change the debt terms and the issuer's credit risk
tags
instruments
sources
- Vestel Elektronik Says Its Eurobond Holders Supported Consent Solicitation — Reuters, 12 November 2026 at 05:13 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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