April 27, 2018 / 4:51 PM / 24 days ago

BRIEF-Bumech SA To Update And Simplify Its Arrangement Proposals With Creditors

April 27 (Reuters) - Bumech SA:

* DECIDES TO UPDATE AND SIMPLIFY ITS ARRANGEMENT PROPOSALS WITH CREDITORS

* DIVIDES ITS CREDITORS INTO THREE GROUPS: PUBLIC-PRIVATE, SECURED WITH ASSETS AND OTHER

* TO REPAY ITS PUBLIC-PRIVATE CREDITORS IN 100 PCT OF DEBT IN 96 INSTALLMENTS, INCLUDING INTEREST AND EXPENSES

* TO REPAY CREDITORS WITH DEBT SECURED WITH BUMECH ASSETS IN 96 INSTALLMENTS, INCLUDING INTEREST AND EXPENSES

* TO REPAY REMAINING CREDITORS IN 96 INSTALLMENTS IN 70 PCT OF DEBT WITHOUT INTEREST OR EXPENSES

* PROPOSES ITS CREDITORS FROM THE TWO LAST GROUPS TO EXCHANGE THEIR CLAIMS FOR CONVERTIBLE BONDS WORTH 100 PCT OF THE MAIN CLAIM AND ALL PENDING INTERESTS

* UPDATED ARRANGEMENT PROPOSALS WILL BE PRESENTED FOR APPROVAL TO THE GENERAL MEETING AND FINAL VERSION MAY DIFFER FROM THE CURRENT ONE Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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