PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN; LSE: MMK) Announces Second Extension of Consent Solicitation for its Outstanding 4.375% Notes with a Nominal Value of US$500,000,000 (Guaranteed Notes due 2024).
On June 9, 2022, PJSC Magnitogorsk Iron & Steel Works (the “guarantor“) the extension of the Consent Solicitation for the outstanding amounts due in 2024 and issued by MMK International Capital DAC (the “issuer“) issued 4.375% Notes with a nominal value of US$500,000,000 (ISIN: XS1843434959 (Regulation S) / US553142AA88 (Rule 144A); Common Code: 111730628 (Regulation S) / 111730628 (Rule 144A Common Code)) (the “Note“) under the terms set forth in the Consent Solicitation Memorandum dated June 6, 2022, (the “Consent Solicitation Memorandum“). Capitalized terms used but not defined herein are intended to have the meanings given in the Consent Solicitation Memorandum.
The Guarantor is pleased to announce that significant progress has been made in terms of investor support and further thanks to those Noteholders who have already submitted their Consent Instructions. In response to requests from numerous customers who need more time to obtain internal approvals and submit their signatures, the Garant is now announcing a further extension. The Guarantor thanks all investors who have provided feedback regarding the terms of the Consent Solicitation and the requested changes. The Guarantor hereby notifies the Noteholders that it has decided to extend the Consent Deadline from 16 June 2022 (4.00 p.m. (London time)) to 30 June 2022 (4.00 p.m. (London time)) (the Updated Consent Deadline“) to extend.
Changes to the Content Solicitation are only possible within the framework of the Updated Consent Deadline, as explained above. All other terms of the Consent Solicitation remain unchanged.
The Guarantor encourages those Noteholders not yet participating in the Consent Solicitation to contact its Investor Relations Department or the Rybalkin, Gortsunyan, Dyakin and Partners Advocates Bureau at the earliest opportunity (“RGD“) to obtain a copy of the Consent Solicitation Memorandum and to discuss other related matters. For those Noteholders who have already forwarded the Consent Instructions to the Consent Solicitation, the amendments will be deemed approved unless they submit their Consents prior to the expiration of the Consent Solicitation or the Updated Consent Deadline, whichever is earlier.
All documents related to the Consent Solicitation and related updates are available upon request from RGD at [email protected]. In addition, please confirm in your communiqué the nominal value of the Notes you hold and the location of the Custodian.
Noteholders may contact RGD via email at [email protected] if they require assistance.
In case of additional questions from bondholders, please contact the Investor Relations Department by email: [email protected].
| ISIN: | US5591892048 |
| Category code: | MSCM |
| TIDM: | MMK |
| LEI code: | 253400XSJ4C01YMCXG44 |
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