PJSC Magnitogorsk Iron & Steel
Works ("MMK", or "the Group") (MOEX: MAGN; LSE:
MMK) notifies about 2024 Eurobond coupon payment in June 2022.
June 2022 is the scheduled payment date for the next coupon payment
on the MMK International Capital Designated Activity Company
(“Issuer”) loan agreement funded by the issuance of $500 million
aggregate principal amount of global bond certificates at 4.375%p.a.
with maturity date in 2024 (“Notes”), issued by the Issuer on 13
Given the existing uncertainty regarding the transfer
and receipt of loan interest and coupon income due to regulatory
restrictions in various jurisdictions, particularly, cross-border
payments, MMK is considering legal options to facilitate the coupon
payment on 13 June 2022. MMK encourages holders of the Notes to
contact MMK as soon as possible to discuss and find an acceptable
solution, and requests the following information:
type of Notes in holdings: Regulation S Notes (ISIN: XS1843434959) or
Rule 144A Notes (ISIN: US553142AA88);
the number of respective Notes in holdings;
the jurisdiction of the relevant holder of the Notes and (if
different) the jurisdiction of the account in which the relevant
Notes are held.
The information could be provided to MMK at
email@example.com with subject “Notes
MMK has the sufficient liquidity cushion to meet its
obligations on due dates, including the Notes coupon payment, and
will carry out the available actions to fulfill these obligations.