Domodedovo seeks to defer bond redemption by year amid search for new owner

MOSCOW. Nov 27 (Interfax) - Domodedovo Fuel Facilities LLC (DFF) is launching the "process of managing the debt obligations" of the Domodedovo Airport Group, the company reported on the disclosure wire.

Under this process, DFF and companies that are part of the airport's operations division plan to ask the holders of bond series 002P-01 at a general meeting on December 11 to agree to the deferral of the bonds' redemption date by one year to December 15, 2026.

It also proposes to set a new floating coupon rate for the seventh and eighth coupon periods, with payment on June 16 and December 15, 2026, in the amount of the Russian Central Bank's key rate plus 3%.

DFF recalled that the Russian government, having nationalized Domodedovo, is now looking for a new investor for the airport. "As part of the major transition period, the Federal Property Agency has appointed a consultant to look for a strategic buyer," the company said.

"The changes in the terms of the bond issue are aimed at the short-term extension of the bonds' maturity amid the search for a strategic shareholder, reform of the corporate government system and the group's business processes," the company said.

The group said it "has the full support of the government as a shareholder, as well as the support of key creditor banks, which makes it possible to ensure stable operations and protect the interests of creditors," the company said.