RUS
Media
MainMediaPress releases

Extension of the Placement Period for the Additional Issue of Replacement Bonds

Print

23 May 2023

PAO Sovcomflot (MOEX:FLOT) announces the extension, until 15 June 2023, of the placement period for the additional issue of replacement bonds, i.e., Russian bonds which will replace the Eurobonds issued by SCF Capital Designated Activity Company, Ireland, maturing on 26 April 2028 (ISIN: XS2325559396) ("Eurobonds 2028").

The main way in which the bondholder (or its broker) can take part in the additional exchange is by making an offer to physically deliver Eurobonds to PAO Sovcomflot.

Investors whose offers were accepted before 22 May 2023 and whose Eurobonds were physically delivered to PAO Sovcomflot have received replacement bonds (Series ZO-2028) on or before 29 May 2023.

The remaining bondholders may submit such offers no later than 15 June 2023. If their offers are accepted, bondholders will receive replacement bonds (Series ZO-2028) on or before 22 June 2023.

The terms of the replacement bonds will be similar to those of the existing Eurobonds 2028 as regards the amount and timing of the coupon payments, maturity date and par value. Payments under all replacement bonds will be made in Russian roubles at the Bank of Russia exchange rate as at the date of the relevant payment.

Sovcomflot informs holders of Eurobonds 2028 whose rights to them are accounted for with Russian depositories of the opportunity to participate in the placement of an additional issue of replacement bonds.

Sovcomflot requests all holders of Eurobonds 2028 wishing to take part in the exchange to promptly contact their brokers to confirm that such exchange is possible.

For all questions relating to the exchange for replacement bonds, please contact your external legal advisor, Dénuo, at scf-bonds@lsi-lawyers.com; in your letter please specify the quantity of Eurobonds held, place of safekeeping (National Settlement Depository or any other securities depository) and the ultimate beneficial owner's residency status.

Appendices:

Back to the news list

© PAO Sovcomflot 2024

The information provided on this webpage (the “Information”) is not directed or intended for distribution to, directly or indirectly, or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration, licensing or other permission within such jurisdiction. The Information may not be taken, transmitted or distributed, directly or indirectly, in or into the United States (or to U.S. persons), Canada, Australia, the Russian Federation, Italy or Japan or in any other jurisdictions in which (and to the extent) it would be prohibited by applicable law to do so.

The Information does not constitute an offer or an advertisement of any securities in any jurisdiction.

The Information is not an offer for sale of securities in the United States.

The Information does not constitute an offer of any securities in Russia or to or for the benefit of any Russian person. The Information is not intended for any persons in the Russian Federation who are not “qualified investors” within the meaning of the 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 publicly available in Russia or made available to any persons who are not Russian Is, unless and to the extent otherwise permitted by Russian law.

BY CONTINUING REVIEW OF THE INFORMATION YOU CONFIRM THAT YOUR REVIEW AND USE OF THE INFORMATION WOULD BE PERMITTED BY, AND WOULD NOT BE CONTRARY TO, ANY APPLICABLE LAW OR REGULATION.