PAO TMK / Miscellaneous
TMK announces tender offer results
10-Nov-2015 / 12:09 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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 (EACH A 'U.S. PERSON')) OR TO ANY PERSON LOCATED
OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. OTHER RESTRICTIONS APPLY
(SEE 'OFFER RESTRICTIONS' BELOW).
10 November 2015
TMK ANNOUNCES TENDER OFFER RESULTS
On 29 October 2015 TMK Capital S.A. (the 'Offeror') launched an invitation to eligible holders of the outstanding
U.S.$500,000,000 7.75 per cent. loan participation notes due 2018 (the 'Notes') issued by, but with limited recourse to,
the Offeror for the sole purpose of financing a loan to PAO TMK (the 'Borrower') to tender their Notes for purchase by
the Offeror for cash (the 'Tender Offer').
Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Tender
Offer Memorandum dated 29 October 2015 (the 'Tender Offer Memorandum').
The Tender Offer expired at 4:00 p.m. (London time) on 9 November 2015. As at the Expiration Time, an aggregate nominal
amount of Notes equal to U.S.$168,002,000 has been validly tendered in the Tender Offer. The Offeror hereby announces
that it has accepted for purchase an aggregate nominal amount of Notes equal to U.S.$91,180,000 as set out in the table
below at the Purchase Price of U.S.$1,032.50 per U.S.$1,000 in principal amount of Notes. All Notes validly tendered at
or below the Purchase Price have been accepted in full. The results of the Tender Offer are set out in the table below:
Description of the Common code/ISIN Outstanding Notes Accepted for Purchase Price Outstanding principal
Notes principal amount on Purchase amount following
launch of the Tender settlement of the
Offer Tender Offer
U.S.$500,000,000 7.75 058521159/ U.S.$500,000,000 U.S.$91,180,000 in U.S.$1,032.50 per U.S.$408,820,000
per cent. Loan XS0585211591 aggregate principal U.S.$1,000 in
Participation Notes amount of Notes principal amount
due 2018
All the Notes accepted for purchase have been accepted in full without pro-ration.
The Offeror will also pay the Accrued Interest Amount in respect of all Notes accepted for purchase.
The expected Settlement Date for the Tender Offer is 13 November 2015.
Contact Details:
THE JOINT DEALER MANAGERS
Citigroup Global Markets Limited
Citigroup Centre, Canada Square
London E14 5LB
United Kingdom
Attention: Liability Management Group
Telephone: +44 20 7986 8969
Email: liabilitymanagement.europe@citi.com
J.P. Morgan Securities plc
25 Bank Street
Canary Wharf
London E14 5JP
Telephone: +44 20 7134 2468
Attention: Liability Management
Email: em_europe_lm@jpmorgan.com
THE TENDER AGENT
Citibank, N.A., London Branch
Citigroup Centre, Canada Square
London E14 5LB
United Kingdom
Website: https://debtxportal.issuerservices.citigroup.com
Attention: Exchange Team
Telephone: +44 207 508 3867
E-Mail: exchange.gats@citi.com
THE OFFEROR
TMK Capital S.A.
2. Boulevard Konrad
Adenauer
L-1115 Luxembourg
Grand Duchy of Luxembourg
THE BORROWER
PAO TMK
40, Bld. 2A, Pokrovka Street,
105062 Moscow,
Russian Federation
OFFER RESTRICTIONS
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR IN ANY OTHER
JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.
United States
The Tender Offer is not being made and will not be made, directly or indirectly, in or into, or by use of the mails of,
or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities
exchange of, the United States or to, or for the account of benefit of, any U.S. person. This includes, but is not
limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic
communication. Accordingly, copies of this Announcement and/or the Tender Offer Memorandum and any other documents or
materials relating to the Tender Offer is not being, and must not be, directly or indirectly, mailed or otherwise
transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into
the United States or to, or for the account of benefit of, a U.S. Person and the Notes cannot be tendered in the Tender
Offer by any such use, means, instrumentality or facility or from or within or by persons located or resident in the
United States or by any U.S. Person or any person acting for the account or benefit of a U.S. Person. Any purported
tender of Notes in the Tender Offer resulting directly or indirectly from a violation of these restrictions will be
invalid and any purported tender of Notes made by a person located in the United States, a U.S. Person, by any person
acting for the account or benefit of a U.S. Person, or by any agent, fiduciary or other intermediary acting on a
non-discretionary basis for a principal giving instructions from within the United States will be invalid and will not
be accepted.
Each holder of Notes participating in the Tender Offer will represent that it is not a U.S. Person, is not located in
the United States and is not participating in the Tender Offer from the United States, or it is acting on a
non-discretionary basis for a principal located outside the United States that is not giving an order to participate in
the Tender Offer from the United States and who is not a U.S. Person.
United Kingdom
The communication of this Announcement and/or the Tender Offer Memorandum and any other documents or materials relating
to the Tender Offer is not being made, and such documents and/or materials have not been approved, by an authorised
person for the purposes of section 21 of the Financial Services and Markets Act 2000 (the 'FSMA'). Accordingly, such
documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United
Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions
under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) persons who have
professional experience in matters relating to investments, being investment professionals as defined in Article 19 of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'FPO'); (2) persons who fall within
Article 49 of the FPO ('high net worth companies, unincorporated associations etc.'); or (3) any other persons to whom
these documents and/or materials may lawfully be communicated. Any investment or investment activity to which this
Announcement and/or the Tender Offer Memorandum relates is available only to such persons or will be engaged only with
such persons and other persons should not rely on it.
France
The Tender Offer is not being made, directly or indirectly, to the public in the Republic of France ('France'). Neither
this Announcement nor the Tender Offer Memorandum nor any other documents or materials relating to the Tender Offer has
been or shall be distributed to the public in France and only (i) providers of investment services relating to portfolio
management for the account of third parties (personnes fournissant le service d'investissement de gestion de
portefeuille pour compte de tiers) and/or (ii) qualified investors (investisseurs qualifiés) other than individuals
acting on their own account and all as defined in, and in accordance with, Articles L.411-1, L.411-2 and D.411-1 of the
French Code Monétaire et Financier, are eligible to participate in the Tender Offer. This Announcement, the Tender Offer
Memorandum and any other document or material relating to the Tender Offer has not been and will not be submitted for
clearance to nor approved by the Autorité des marchés financiers.
Italy
None of the Tender Offer, this Announcement, the Tender Offer Memorandum or any other documents or materials relating to
the Tender Offer have been or will be submitted to the clearance procedure of the Commissione Nazionale per le Società e
la Borsa ('CONSOB') pursuant to Italian laws and regulations.
The Tender Offer is being carried out in the Republic of Italy as exempted offers pursuant to article 101-bis, paragraph
3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended (the 'Financial Services Act') and article
35-bis, paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999, as amended.
Qualifying Holders can tender some or all of their Notes pursuant to the Tender Offer through authorised persons (such
as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with
the Financial Services Act, CONSOB Regulation No. 16190 of 29 October 2007, as amended from time to time, and
Legislative Decree No. 385 of September 1, 1993, as amended) and in compliance with applicable laws and regulations or
with requirements imposed by CONSOB or any other Italian authority.
Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its
(MORE TO FOLLOW) Dow Jones Newswires
November 10, 2015 06:09 ET (11:09 GMT)
