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Severstal - ao — Capital/Financing Update 2016
Mar 24, 2016
6426_rns_2016-03-24_ac65e500-4766-43a9-82eb-b2f7ad71007c.html
Capital/Financing Update
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RNS Number : 1529T
Public Joint Stock Co. Severstal
24 March 2016
Partial cancellation of the Loan Participation Notes due to 2017, 2018 and 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES, AND THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. OTHER RESTRICTIONS APPLY. NOT FOR PUBLICATION IN THE RUSSIAN FEDERATION.
PАО Severstal (previously known as OAO Severstal) ("Severstal") (MOEX: CHMF; LSE: SVST), one of the world's leading vertically integrated steel and steel-related mining companies, announces as follows. On 23rd March 2016, Steel Capital S.A. (the "Issuer"), a special purpose vehicle established for the sole purpose of issuing notes for financing loans to Severstal, partially cancelled three series of its notes following their repurchase in the open market by Severstal's subsidiaries (the "Cancellation") .
The Cancellation was in relation to the repurchased notes of the following series:(1) US$1,000,000,000 6.70% Loan Participation Notes due 2017 (ISIN: XS0551315384, US858057AC66) (the "2017 Notes"), (2) US$600,000,000,000 4.45% Loan Participation Notes due 2018 (ISIN: XS0899969702, US85805RAC25) (the "2018 Notes") and (3) US$750,000,000,000 5.90% Loan Participation Notes due 2022 (ISIN: XS0841671000, US85805RAB42) (the "2022 Notes" and together with the 2017 Notes and the 2018 Notes, the "Notes"). The Cancellation was completed on 23rd March 2016.
The details of the Cancellation of the relevant series of the Notes are set out in the table below:
| Description of the Notes: | ISIN: | Common Code: | Listing: | Aggregate outstanding principal amount preceding the Cancellation: | Aggregate principal amount subject to the Cancellation: | Aggregate outstanding principal amount following the Cancellation: |
|---|---|---|---|---|---|---|
| US$1,000,000,000 6.70% Loan Participation Notes due 2017 | XS0551315384, US858057AC66 | 055131538, 055206767 | London Stock Exchange | US$620,814,000 | US$26,625,000 | US$594,189,000 |
| US$600,000,000 4.45% Loan Participation Notes due 2018 | XS0899969702, US85805RAC25 | 089996970, 089997291 | Irish Stock Exchange | US$524,740,000 | US$23,880,000 | US$548,620,000 |
| US$750,000,000 5.90% Loan Participation Notes due 2022 | XS0841671000, US85805RAB42 | 084167100, 084218774 | London Stock Exchange | US$570,813,000 | US$63,238,000 | US$634,051,000 |
Following the Cancellation, the outstanding 2017 Notes, 2018 Notes and the 2022 Notes in the aggregate principal amount of US$594 189 000, US$548 620 000 and US$634 051 000, respectively, will remain listed on the London Stock Exchange or the Irish Stock Exchange, as the case may be.
For further information, please contact:
Severstal Investor Relations
Victor Drozdov
T: +7 (495) 926-77-66
Severstal Public Relations
Anastasia Mishanina
T: +7 (495) 926-77-66
Severstal's financial communications agent - Hudson Sandler
Andrew Hayes / Elena Garside / Alex Brennan
T: +44 (0) 20 7796 4133
This information is provided by RNS
The company news service from the London Stock Exchange
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