Green light for Aya New York: Bondholders overwhelmingly approve debt terms modification

In a vote with 99.57% support, Series A bondholders of Aya New York approved an amendment to the deed of trust, granting the company financial flexibility and paving the way for an early debt redemption.

The Series A bondholders of Aya New York Limited granted the company nearly unanimous approval to amend the series' deed of trust. The amendment, approved by 99.57% of meeting participants, is designed to align the series terms with the possibility of a full early redemption at the company's initiative and to update the grounds for calling immediate repayment.

Aya New York Limited received sweeping support from its Series A bondholders to amend the terms of the series. At a bondholder meeting held on October 6, 2026, Amendment No. 1 to the deed of trust was approved by an overwhelming majority of 99.57% of the votes. The move grants the company significant financial flexibility, particularly regarding the possibility of an early debt redemption.

Voting Results

According to a filing submitted via Mishmeret Trust Company, the meeting saw participation from holders holding approximately 59.39% of the total par value of the bonds in circulation, representing debt in the amount of approximately ₪173.45 million. Of the participants in the vote, holders of ₪172.7 million (99.57%) voted "for" the resolution proposal, while only holders of ₪744,830 (0.43%) voted "against". The required majority for adopting the resolution was two-thirds (approx. 66.7%) of all participants, so the proposal passed very easily.

Significance of the Deed of Trust Amendment

The approved amendment focuses on two main aspects. First, it regulates and makes adjustments to the terms of the deed of trust regarding the possibility of a full early redemption of all bonds in the series, should the company decide to do so. This capability allows the company to seize future windows of opportunity, such as refinancing the debt under better terms if market interest rates decline, or repaying it in full in the event of positive cash flow.

Second, the amendment includes an update to the provisions of the deed of trust concerning the grounds for immediate repayment. These clauses define the scenarios in which bondholders can demand the immediate repayment of their debt, and their update is intended to align the terms with the current situation and the first amendment. In addition, the meeting authorized the trustee to agree to additional technical or non-material amendments required by the Tel Aviv Stock Exchange.

The near-unanimous support for the move by the bondholders, alongside the relatively high participation rate for a non-physical meeting, reflects investor confidence in the company's management and the financial rationale behind the request to change the terms. Approval of the amendment provides Aya New York with certainty and maneuvering room in managing its financial liabilities.