PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN; LSE: MMK)
notifies on the second extension of the Consent Solicitation for its
outstanding U.S.$500,000,000 4.375 per cent. Guaranteed Notes due
2024.
On 9 June 2022, PJSC Magnitogorsk Iron & Steel
Works (the “Guarantor”) announced extension of consent
solicitation in relation to the outstanding U.S.$500,000,000 4.375%
Notes due 2024 issued by MMK International Capital DAC (the “Issuer”)
(ISIN: XS1843434959 (Regulation S) / US553142AA88 (Rule 144A); Common
Code: 111730628 (Regulation S) / 111730628 (Rule 144A Common code))
(the “Notes”) on the terms and subject to the conditions set
forth in the Consent Solicitation Memorandum dated 6 June 2022 (the
“Consent Solicitation Memorandum”). Capitalized terms used, but
not defined herein, shall have the meanings given to them in the
Consent Solicitation Memorandum.
The Guarantor is pleased to announce that
significant progress has been made in obtaining support from
investors and thanks those Noteholders, who have already submitted
their Consent instructions. In response to requests from a number of
accounts requiring additional time in order to pass internal
approvals and submit their signatures, the Guarantor announces
further extension. The Guarantor thanks all investors who have
provided their feedback on the terms of Consent and amendments
sought. The Guarantor hereby notifies the Noteholders that it has
decided to further extend the Consent Deadline period from 16 June
2022 (4 p.m. (London time)) to 30 June 2022 (4 p.m. (London time))
(the “Updated Consent Deadline”).
Amendments to the Consent Solicitation are limited
to the Updated Consent Deadline, as outlined above. All other terms
of the Consent Solicitation will remain the same.
The Guarantor strongly encourages those
Noteholders that have not yet participated in the Consent
Solicitation to liaise at their earliest convenience with its
Investor Relations department and/or Rybalkin, Gortsunyan, Dyakin and
Partners Advocates Bureau (“RGD”) directly to obtain a copy of
the Consent Solicitation Memorandum and to discuss other related
matters. Noteholders who have already delivered Consent Instructions
in the Consent Solicitation will be deemed to have consented to the
Amendments unless they validly revoke their Consents prior to the
earlier of the Effective time and the Updated Consent Deadline.
All documentation relating to the Consent
Solicitation, together with any updates, will be available upon
request to RGD at MMKconsentsolicitation2022@rgd.legal.
In your communique, please also confirm the aggregate notional amount
of the Notes that you hold and the location of the depository.
Noteholders may contact RGD via email at
MMKconsentsolicitation2022@rgd.legal
if they require assistance.
Should the Noteholders have any additional
questions, please contact with the Guarantor’s Investor Relations
department via email at: ir@mmk.ru.
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