DJ DGAP-Regulatory: TMK Announces Tender Offer Results via Alfa Capital / CITI / JPM
PAO TMK / Miscellaneous - Urgent Priority
TMK Announces Tender Offer Results via Alfa Capital / CITI / JPM
25-Apr-2016 / 13:38 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).
25 April 2016
TMK ANNOUNCES TENDER OFFER RESULTS
On 13 April 2016 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 13 April 2016 (the 'Tender Offer Memorandum').
The Tender Offer expired at 4:00 p.m. (London time) on 22 April 2016. As at the Expiration Time, an aggregate nominal
amount of Notes equal to U.S.$177,453,000 has been validly tendered in the Tender Offer. The Offeror hereby announces
that it has accepted for purchase an aggregate principal amount of Notes equal to U.S.$177,453,000 as set out in the
table below:
Description of the Notes Common code/ISIN Outstanding principal Aggregate principal Outstanding principal
amount on launch of the amount of Notes Accepted amount following
Tender Offer for Purchase settlement of the Tender
Offer
U.S.$500,000,000 7.75 058521159/ U.S.$408,820,000 U.S.$177,453,000 U.S.$231,367,000
per cent. Loan XS0585211591
Participation Notes due
2018
All the Notes validly tendered 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 28 April 2016.
Contact Details:
THE JOINT DEALER MANAGERS
Alfa Capital Holdings (Cyprus) Limited
Themistokli Dervi 5
Elenion Building, 2nd Floor
P.C. 1066, Nicosia, Cyprus
Telephone: +357 22470900
Email: dhadjisavvas@alfacapital.com.cy
Attention: Dinos Hadjisavvas
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
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
Tel: +44 20 7704 0880
Attention: Thomas Choquet
Email: tmk@lucid-is.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) those persons who
are existing members or creditors of the Offeror or other persons within Article 43 of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005, as amended, and (2) to any other persons to whom these documents
and/or materials may lawfully be communicated.
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
clients in connection with the Notes or the Tender Offer.
Russia
Neither this Announcement, nor Tender Offer Memorandum nor information contained therein nor any other document or
materials relating to the Tender Offer is an offer, or an invitation to make offers, to sell, exchange or otherwise
transfer securities in the Russian Federation to or for the benefit of any Russian person or entity and does not
constitute an advertisement or offering of securities in the Russian Federation within the meaning of Russian securities
(MORE TO FOLLOW) Dow Jones Newswires
April 25, 2016 07:38 ET (11:38 GMT)
laws. Information contained in this Announcement, or Tender Offer Memorandum, or any other document or materials
relating to the Tender Offer is not intended for any persons in the Russian Federation who are not 'qualified investors'
within the meaning of Article 51.2 of Federal Law No. 39-FZ 'On the Securities Market' dated 22 April 1996, as amended
(the 'Russian QIs') and must not be distributed or circulated into Russia or made available in Russia to any persons who
are not Russian QIs, unless and to the extent they are otherwise permitted to access such information under Russian law.
Grand Duchy of Luxembourg
Neither this Announcement nor the Tender Offer Memorandum has not been approved by and will not be submitted for
approval to the Luxembourg Financial Services Authority (Commission de Surveillance du Secteur Financier) for purposes
of a public offering or sale in the Grand Duchy of Luxembourg. Accordingly, the Tender Offer may not be made to the
public in the Grand Duchy of Luxembourg, directly or indirectly, and neither this Announcement nor Tender Offer
Memorandum nor any other circular, prospectus, form of application, advertisement or other material may be distributed
or otherwise made available in or from, or published in, the Grand Duchy of Luxembourg except in circumstances which do
not constitute a public offer of securities to the public, subject to prospectus requirements, in accordance with
Luxembourg law of 10 July 2005 (as amended) on prospectuses for securities.
General
Neither this Announcement nor the Tender Offer Memorandum nor the electronic transmission thereof constitutes an offer
to buy or the solicitation of an offer to sell Notes (and tenders of Notes for purchase pursuant to the Tender Offer
will not be accepted from Qualifying Holders) in any circumstances in which such offer or solicitation is unlawful. In
those jurisdictions where the securities, blue sky or other laws require the Tender Offer to be made by a licensed
broker or dealer and any Joint Dealer Manager or any of its affiliates is such a licensed broker or dealer in any such
jurisdiction, the Tender Offer shall be deemed to be made by such Joint Dealer Manager or such affiliate, as the case
may be, on behalf of the Offeror in such jurisdiction.
25-Apr-2016 The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News
and Press Releases.
Media archive at www.dgap.de/ukreg
Language: English
Company: PAO TMK
40/2a Pokrovka
105062 Moscow
Russia
Phone: +7 495 775-7600
Fax: +7 495 775-7601
E-mail: tmk@tmk-group.com
Internet: tmk-group.com
ISIN: US87260R2013
Category Code: MSCU
TIDM: TMKS
Sequence Number: 3111
Time of Receipt: 25-Apr-2016 / 13:37 CET/CEST
End of Announcement EquityStory.RS, LLC News Service
457345 25-Apr-2016
(END) Dow Jones Newswires
April 25, 2016 07:38 ET (11:38 GMT)
© 2016 Dow Jones News
