PAO Severstal (SVST) PAO Severstal: ANNOUNCEMENT OF THE RESULTS
OF THE CONSENT SOLICITATION 11-Aug-2022 / 17:40 MSK Dissemination
of a Regulatory Announcement that contains inside information in
accordance with the Market Abuse Regulation (MAR), transmitted by
EQS Group. The issuer is solely responsible for the content of this
announcement.
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NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR
RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE
THIS DOCUMENT.
THIS ANNOUNCEMENT IS IMPORTANT AND REQUIRES THE IMMEDIATE
ATTENTION OF HOLDERS. IF HOLDERS ARE IN ANY DOUBT AS TO THE ACTION
THEY SHOULD TAKE, THEY SHOULD IMMEDIATELY CONSULT THEIR OWN
INDEPENDENT PROFESSIONAL ADVISERS.
THIS ANNOUNCEMENT CONTAINS IMPORTANT INFORMATION THAT IS OF
INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE NOTES. IF
APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES
RECEIVING THIS ANNOUNCEMENT ARE REQUIRED TO EXPEDITE TRANSMISSION
HEREOF TO BENEFICIAL OWNERS OF THE NOTES IN A TIMELY MANNER. IF
HOLDERS OR BENEFICIAL OWNERS OF THE NOTES ARE IN ANY DOUBT AS TO
THE MATTERS REFERRED TO IN THIS ANNOUNCEMENT, THEY SHOULD CONSULT
THEIR STOCKBROKER, LAWYER, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER
WITHOUT DELAY.
11 August 2022
ANNOUNCEMENT OF THE RESULTS OF THE CONSENT SOLICITATION
Programme for the Issuance of Loan Participation Notes issued by
Steel Capital S.A. (the "Issuer") for the purpose of funding loans
to Severstal (the "Programme")
U.S.USD750,000,000 in aggregate principal amount of 5.90 per
cent. Series 3 Loan Participation Notes due 2022 issued by the
Issuer pursuant to the Programme on 15 October 2012 for the purpose
of funding a U.S.USD750,000,000 loan to Severstal
of which U.S.USD 634,051,000 is currently outstanding
ISINs: XS0841671000; US85805RAB42 (the "Notes")
Reference is made to the launch announcement dated 13 July 2022
(the "Launch Announcement") and extension notice dated 8 August
2022 relating to the Notes and published by Severstal. Terms
defined in the Launch Announcement shall have the same meaning
herein.
Severstal hereby announces the results of soliciting consents of
the holders of the Notes (the "Noteholders") to the proposals (the
"Proposals") included in the Launch Announcement and the written
resolution related thereto (the " Written Resolution").
Severstal hereby gives notice that it received confirmation from
the tabulation agent today that holders of more than two thirds in
principal amount of the Notes outstanding at the time have
consented to the Proposals set out in Part A and Part B of the
Written Resolution and, accordingly, the Proposals set out in both
Part A and Part B of the Written Resolution have become effective
and binding on all Noteholders, and the solicitation of consents is
therefore completed.
Pursuant to the Written Resolution, the Early Redemption Date
for the Notes (together with the interest accrued and unpaid up to
such date, including the April 2022 Coupon) shall be 29 August 2022
in each case in accordance with the terms of the Written
Resolution.
The Noteholders holding the Notes as of 27 July 2022 through
Russian National Settlement Depository or other Russian custodians
will receive payment in Roubles via respective Russian
custodians.
The Noteholders holding the Notes as of 27 July 2022 through
foreign nominee holders and seeking to receive direct payments from
Severstal in Roubles shall (i) contact Severstal at
svs22@severstal.com to obtain the form of application for the
direct payment and (ii) provide, by 18 August 2022, to Severstal
the signed application accompanied or subsequently followed by (but
in any event not later than 90 calendar days from the Early
Redemption Date) the Proof of Holding as of 27 July 2022, the
identification documents and the documents for tax purposes (all in
Agreed Form), as set out in the Written Resolution (the "Payment
CPs"). The relevant application shall contain one of the following:
the details of an existing Rouble account with a Russian credit
institution ("RUB Account"), an undertaking to provide the details
of the RUB Account within 90 calendar days from the Early
Redemption Date or authority granted to Severstal to open a Rouble
account on the Noteholder(s) behalf or to the benefit of the
Noteholder(s), subject to the requirements of the Russian laws.
Direct payment will be made to a Noteholder on the Early Redemption
Date (provided that such Noteholder delivers the Payment CPs to
Severstal by 18 August 2022) or within 7 Russian business days
following the date when the relevant Noteholder delivers the
Payment CPs to Severstal.
Please contact Severstal at svs22@severstal.com or
+7(495)9610195 (ext. 21521) with any questions or requests for
clarifications with regard to the payments or the required
documents.
The distribution of this announcement in certain jurisdictions
may be restricted by law. Persons into whose possession this
announcement comes are required by Severstal, the Issuer, the
Trustee, the Principal Paying, Transfer Agent and Lecap to inform
themselves about, and to observe, any such restrictions.
This announcement must be read in conjunction with the Written
Resolution. This announcement and the Written Resolution contain
important information which should be read carefully. If any
Noteholder is in any doubt as to the action it should take or is
unsure of the impact of the adoption of the Written Resolution, it
is recommended to seek its own financial advice, including in
respect of any tax consequences, immediately from its stockbroker,
bank manager, solicitor, accountant or other independent financial
or legal adviser.
None of Severstal, the Issuer, the Trustee, the Principal Paying
and Transfer Agent and Lecap or any director, officer, employee,
agent or affiliate of any such person, is acting for any
Noteholder, or will be responsible to any Noteholder for providing
any protections which would be afforded to its clients or for
providing advice in relation to the Proposals and/or the Written
Resolution.
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ISIN: US8181503025
Category Code: MSCH
TIDM: SVST
LEI Code: 213800OKDPTV6K4ONO53
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 180899
EQS News ID: 1419061
End of Announcement EQS News Service
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