DJ Issue of an Optional Redemption Notice in relation Convertible Bonds due 2022
PAO Severstal (SVST) Issue of an Optional Redemption Notice in relation Convertible Bonds due 2022 24-March-2021 / 19:30 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- Issue of an Optional Redemption Notice in relation to U.S. USD250,000,000 Zero Coupon Convertible Bonds due 2022 (the "Bonds") issued by Abigrove Limited (the "Issuer") and guaranteed by PAO Severstal (the "Company") 24 March 2021 The Issuer announces today an Optional Redemption Notice to exercise the Redemption at the option of the Issuer in relation to U.S. USD250,000,000 Zero Coupon Convertible Bonds due 2022 in accordance with article 9(B)(i) of Terms & Conditions of the Bonds. 28th April 2021 is set as Early Redemption Date, on which the Issuer will redeem the Bonds then outstanding at 100% of their Principal Amount. The Optional Redemption Notice is provided given that the Aggregate Value of the GDRs to which a Bondholder would be entitled, upon exercise of the Conversion Right attaching to a Bond in the principal amount of U.S.USD200,000 on respective dealing day, has been exceeding U.S.USD260,000 during not less than 20 dealing days in the period of 30 consecutive dealing days ending seven days prior to the date of the Optional Redemption Notice. Bondholders will have the right, subject to a cash settlement option at the discretion of the Issuer, to convert their bonds into GDRs. The Company does not expect the optional redemption to materially affect its credit profile and dividend payments. This announcement contains inside information for the purposes of the UK version of the Market Abuse Regulation (EU) No.596/2014. For further information, please contact: Investor Relations Vladimir Zaluzhsky T: +7 (495) 926-77-66 vladimir.zaluzhsky@severstal.com Public Relations Anastasia Mishanina T: +7 (495) 926-77-66 anastasia.mishanina@severstal.com *** P?? Severstal is one of the world's leading vertically integrated steel and steel related mining companies, with assets in Russia, Latvia and Poland. Severstal is listed on MOEX and the company's GDRs are traded on the LSE. Severstal reported revenue of USD6,870 million and EBITDA of USD2,422 million in 2020. Severstal's crude steel production in 2020 reached 11.3 million tonnes. www.severstal.com =---------------------------------------------------------------------------------------------------------------------- ISIN: US8181503025 Category Code: MSCL TIDM: SVST LEI Code: 213800OKDPTV6K4ONO53 Sequence No.: 96206 EQS News ID: 1178150 End of Announcement EQS News Service =------------------------------------------------------------------------------------
(END) Dow Jones Newswires
March 24, 2021 12:30 ET (16:30 GMT)
