PJSC ALROSA (the “Company”) announces payment of the latest
coupon in fulfilment of its obligations under a Eurobond issue in the
amount of USD 500,000,000, maturing in 2027 (the “Eurobonds”),
scheduled for payment on 25 December 2022, and due to non-business
days in USA and UK, paid on 28 December 2022 (the “Coupon”).
In accordance with the Russian Federation
Presidential Decrees No. 95, dated 5 March 2022, and No. 430, dated 5
July 2022, on 30 December 2022, the Company transferred funds to JSD
NSD (National Settlement Depository) for onward transfer to Eurobond
holders whose rights are recorded in the Russian depository
infrastructure in accordance with the registers of Eurobond holders
collated on 23 December 2022 (the business day prior to the date on
which payment of the Coupon was due) as a result of the procedure to
identify holders of ALROSA Eurobonds conducted by JSD NSD. The Coupon
payment was made in Russian Federation roubles in accordance with the
procedure determined by the Board of Directors of the Bank of Russia
on 8 July 2022.
The fulfilment of Eurobond coupon payment
obligations as stipulated in the terms and conditions of the issuing
documentation to holders whose rights are registered in foreign
depository infrastructure (in particular through the Euroclear,
Clearstream, and DTC settlement and clearing systems) remains
technically impossible due to the sanctions imposed on the
The Company is fully committed to its Eurobond
payment obligations, and is taking all possible steps and measures to
protect the interests of all its Eurobond holders in equal measure.
The Company is considering possible ways in which it might fulfil its
obligations in the current circumstances.