PJSC Magnitogorsk Iron & Steel Works (MOEX: MAGN; LSE: MMK)
notifies on the extension of the Consent Solicitation for its
outstanding U.S.$500,000,000 4.375 per cent. Guaranteed Notes due
2024.
On 6 June 2022, PJSC Magnitogorsk Iron & Steel
Works (the “Guarantor”) announced a 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); Common Code: 111730628
(Regulation S)) (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 thanks all Noteholders who have
responded promptly on the demanding Consent Deadline (4 p.m. 9 June
2022 (London time) (“Consent Deadline”). The Guarantor
expects to receive further Consent instructions from Noteholders that
have not yet submitted their instructions due to tight timeline. With
a view to receiving the outstanding Consent Instructions necessary to
achieve the Requisite Consents, the Guarantor hereby notifies the
Noteholders that it has decided to extend the Consent Deadline period
from 9 June 2022 (4 p.m. (London time)) to 16 June 2022 (4 p.m.
(London time)) (the “New Consent
Deadline”).
Amendments to the Consent Solicitation are limited
to the New 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 New 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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