EVRAZ plc: UPDATE ON PAYMENT OF INTEREST DUE ON EUROBONDS ISSUED BY EVRAZ PLCSource: EQS
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.
UPDATE ON PAYMENT OF INTEREST DUE ON EUROBONDS ISSUED BY EVRAZ PLC
The Company is currently prohibited from making payments in respect of the 2023 Notes and the 2024 Notes without a licence from the
Even if OFSI were to provide the required licence, there would remain significant challenges to making payment of the interest due on the 2023 Notes and the 2024 Notes. It is not yet clear whether regulatory restrictions or technical issues will prevent the Paying Agent from making, or agreeing to make, payment of the interest due in respect of the 2023 Notes and the 2024 Notes to the clearing systems. In addition, even if the Company were able to make payment of interest to the clearing systems, payments to a significant number of the holders and beneficial holders of the 2023 Notes and the 2024 Notes would be blocked by the clearing systems as a result of their holdings being held through the Russian clearing system.
As a result, the Company will not make payment of the forthcoming interest payments due on the 2023 Notes and does not expect to make payment of the interest due on the 2024 Notes. The Company is in the process of exploring various options that will allow it to meet its obligations to all Noteholders. The Company will keep investors informed about key developments throughout this process.
For further information:
+7 495 232 1370
+7 495 937 6871
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