Novum Capital proposed as common representative of the bondholders of 3W Power S.A.

The restructuring specialist Novum Capital has been proposed by London-based turnaround investment fund Attestor Capital to represent the interests of the bondholders of 3W Power S.A. in the upcoming negotiations with the issuer and the guarantor.

On 4 November 2013, 3W Power S.A., the issuer of the bond with a total volume of up to EUR 125 million, sent out an invitation to a creditors’ meeting of the bondholders announcing that it seeks to “at least defer the upcoming coupon payment and to restructure the bond”.

In its role as common representative of the bondholders Novum Capital will ensure maximum transparency and, as far as possible, a full repayment of the bond. Any possible restructuring contributions should not be unilaterally be borne by bondholders.

About Novum Capital

Novum Capital is an independent and owner-operated investment and advisory firm with offices in Frankfurt and London focused on advising institutional investors in restructuring situations and assisting corporates in the capital raising process. Novum Capital has a wide range of experience and expertise within the areas of financial restructuring and financing, including debt, mezzanine and private equity.

Attestor Capital has nominated Novum Capital Limited, a subsidiary of Novum Capital, as common representative. Novum Capital Limited is regulated by Bundesanstalt für Finanzdienstleistungen (BaFin) in Germany and the Financial Conduct Authority in the United Kingdom.  

For further information and questions please contact Novum Capital at or via telephone at +49 69 2475 2510.

What do bondholders have to do now?

Bondholders have to register for the creditors’ meeting no later than 22 November 2013 at 24:00 CET by post, fax or e-mail with Haubrok Corporate Events GmbH. The registration form can be found here.

To prove their eligibility to participate in the creditors’ meeting, bondholders need to provide a special confirmation of the nominal amount held from their depository bank and a so called blocking notice confirming that the bonds will be held blocked from the day of the issuance of the confirmation until the end of the creditors’ meeting. The corresponding form can be found here.

Bondholders can join the meeting in person on 25 November 2013 at 11:00 at the Sheraton Airport Hotel & Conference Centre in Frankfurt. Alternatively, bondholders can choose to be represented at the creditors’ meeting by a discretionary third party proxy or by Ms. Norma Laaziri, an employee of Haubrok Corporate Events GmbH, a proxy nominated by the issuer. To be represented by Ms. Norma Laaziri the power of attorney to the issuer proxy has to be submitted to Haubrok Corporate Events GmbH no later than 22 November 2013 at 24:00 CET.