Novolipetsk Steel (“NLMK”) hereby informs the holders of the 4.00
per cent. loan participation notes due 2024 (ISIN: XS1577953174,
US85812RAA77) (the “Notes”) that (i) on 21 September 2022 NLMK
made the scheduled coupon payment to the holders of the Notes whose
rights are recorded by Russian depositories, and (ii) on 26 September
2022 (having received the required authorization from the Ministry of
Finance of Russia) NLMK transferred the amount equivalent to the
balance of the coupon payment to the account of the Issuer of the
Notes (Steel Funding D.A.C.) with the Principal Paying Agent
(Deutsche Bank AG, London Branch), which was supposed to be
on-transferred by the Principal Paying Agent to the international
clearing systems for distribution to the holders of the Notes via
The payment made by NLMK on 26 September 2022
to the Issuer was successfully received by the Issuer on its account
with the Principal Paying Agent, however, NLMK has been informed by
the Principal Paying Agent that such payment was not remitted by the
Principal Paying Agent to the international clearing systems.
NLMK is not aware of any prohibitions on the
distribution of the September coupon payment under the Notes to the
noteholders whose rights are recorded outside of Russia. It has taken
all possible steps to enable such distribution in accordance with
recent resolutions of the noteholders, including the engagement in
active communications with the Principal Paying Agent and the
provision of all information that could be helpful in connection with
Considering that NLMK has no leverage over the
Principal Paying Agent, international clearing and banking systems,
we highly encourage those holders of the Notes who have not received
the above coupon payment to address queries and requests to the
Principal Paying Agent and respective international clearing systems,
either directly or through their depositories or brokers.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and
one of the most efficient in the world.
NLMK Group’s steel products are used in various
industries, from construction and machine building to the
manufacturing of power-generation equipment and offshore wind
NLMK operates production facilities in Russia,
Europe, and the United States. The Company’s steel production
capacity exceeds 18 million tonnes per year.
NLMK’s ordinary shares with a 20.7% free-float
are listed on the Moscow Stock Exchange (ticker "NLMK") and
its global depositary shares are traded on the London Stock Exchange
(ticker "NLMK:LI"). The share capital of the Company is
divided into 5,993,227,240 shares with a par value of RUB1.
For more information about NLMK Group, please
visit our website.