LONDON--(BUSINESS WIRE)--Magyar Telecom B.V. (the “Company”) continues to engage in constructive discussions with the Ad Hoc Committee of Noteholders and its advisors regarding the Company’s strategic review. With this process ongoing, the Company’s Board of Directors has decided to use its 30-day grace period for the payment of the 15 June coupon due to the holders of its 9.5% Senior Secured Notes due 2016. The Company believes that it is in all stakeholders’ interest to reach an agreement regarding its overall capital structure and the treatment of the June coupon payment. The Company will review its decision to make the interest payment prior to the end of the 30-day grace period.
The Company’s operations remain unaffected by the review and no impact is expected to any of the Group’s employees, partners, suppliers or trade creditors. The Company will update the market once its strategic review has been concluded.
In case of any questions, please contact the Company’s financial advisor, Houlihan Lokey at:
| Christopher Foley |
| +44 207 747 2717 |