Polyus Finance PLC Update on coupon payments in respect of 2023 Notes (3594A)
22 Septembre 2022 - 5:43PM
UK Regulatory
TIDM60GT TIDMPLZL
RNS Number : 3594A
Polyus Finance PLC
22 September 2022
22 September 2022
Polyus Finance Plc announces an update on coupon payments in
respect of its outstanding U.S.$800,000,000 5.25% Guaranteed Notes
due 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
The reference is made to the outstanding U.S.$800,000,000 5.25%
Guaranteed Notes due 2023 issued by the Issuer and guaranteed by
PJSC Polyus and JSC Polyus Krasnoyarsk (the "Notes").
Terms used but not otherwise defined herein have the meaning
ascribed to them in the terms and conditions of the Notes.
The Issuer hereby notifies the holders of the Notes that, in
accordance with applicable provisions of the laws of the Russian
Federation and the terms of the Notes now in effect, on 24 July
2022, JSC Polyus Krasnoyarsk transferred the funds denominated in
Russian rubles to National Settlement Depository as coupon payments
for the subsequent transfer of such funds to the holders of the
Notes the rights to which are recorded in Russian depositories.
Given the Issuer did not receive the confirmation of the
transfer of the oupon payment under U.S.$500,000,000 4.70%
Guaranteed Notes due 2024 issued by the Issuer and guaranteed by
PJSC Polyus and JSC Polyus Krasnoyarsk to the clearing systems for
onward payment to the holders of the Notes the rights to which are
recorded in foreign depositories (the "Offshore Noteholders") and
in accordance with the terms of the Trust Deed, on 21 September
2022 the Issuer made a transfer of the coupon payment due 7 August
under the Notes (the "7 August Coupon Payment") to the order of I2
Capital Trust Corporation Ltd acting as a trustee under the Notes
(the "Trustee"). The Issuer successfully transferred the 7 August
Coupon Payment to the Trustee within the applicable grace period
and is considered to have fulfilled its obligation to pay the 7
August Coupon Payment under the terms of the Notes. The Trustee is
seeking written confirmation from the relevant clearing systems
that such funds can be transferred to them from the Trustee. The
Issuer expects that the 7 August Coupon Payment will be transferred
to the clearing systems for onward payment to the Offshore
Noteholders by the Trustee.
The Issuer treats the interests of all its holders of the Notes
equally and is fully capable and committed to fulfil its payment
obligations in respect of the Offshore Noteholders. The Issuer will
continue to make every effort to facilitate the coupon payments by
the Paying Agent. The Issuer will provide further updates in case
there are developments with facilitating the coupon payments.
Forward-looking statements
This announcement may contain "forward-looking statements"
concerning Polyus group. Generally, the words "will", "may",
"should", "could", "would", "can", "continue", "opportunity",
"believes", "expects", "intends", "anticipates", "estimates" or
similar expressions identify forward-looking statements. The
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those
expressed in the forward-looking statements. Forward-looking
statements include statements relating to future capital
expenditures and business and management strategies and the
expansion and growth of Polyus group's operations. Many of these
risks and uncertainties relate to factors that are beyond Polyus
group's ability to control or estimate precisely and therefore
undue reliance should not be placed on such statements which speak
only as at the date of this announcement. The Issuer and/or any
Polyus group company assumes no obligation in respect of, and does
not intend to update, these forward-looking statements, except as
required pursuant to applicable law.
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END
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