26 September 2017
PLAZA CENTERS N.V.
MANDATORY REPAYMENT TO THE BONDHOLDERS
Plaza Centers N.V. ("Plaza" or the "Company") announces that, further to the resolutions of the Israeli series A bondholders and the series B bondholders (as published on the Magna on 26 September 2017) in connection with future bondholder repayments (i.e., repayments to series A bondholders, to series B bondholders and to the Polish bondholders), the Company intends to repay a total amount of circa €18,800,000 million, during October 2017, an amount which represents 75% of the funds Plaza has received in the last quarter from sale of real estate assets, as determined in the restructuring plan ("Mandatory Repayment Amount") to be allocated as follows:
· To the Polish bondholders: 8.33% of the Mandatory Repayment Amount - as per the ratio determined in the restructuring plan.
· To the Israeli series A bondholders: 21.23% of the Mandatory Repayment Amount - as per the ratio determined in the restructuring plan.
· To the Israeli series B bondholders: 31.16% of the Mandatory Repayment Amount - the proportional amount that corresponds to the ratio between the outstanding debts of the two Israeli series of bonds.
The Company intends to deposit the reminder of the funds with a third-party trustee for the benefit of both Israeli series of bonds and subsequently approach the competent court in Israel, as soon as possible, for the receipt of instructions with regard to the allocation of such reminder amount. The Company wishes that the Israeli bondholders will find an amicable solution for such payment and future payments as may come.
Ends
For further details, please contact:
Plaza
Dori Keren, CEO +48 22 231 99 00
FTI Consulting
Dido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000
Notes to Editors