Accentro - comment
The restructuring deal is one step closer after the Ad Hoc bondholder group agreed to buy the 2029 bond. Assuming the bond purchase is completed as expected by the end of the week, the restructuring plan can be implemented. The previous Amend and Extend operations were approved as bondholders wanted to avoid an insolvency process; a proper restructuring will be attractive to all SUN holders. We will be publishing our opinion on the valuation of the bonds today.